Study Session 10
Week off from studying was really good for clearing out the ol' cobwebs. I highly recommend it. Although I missed some of the rigor of having a set schedule, I have to say that the combination of hard studying and then perspective is really good.
So today I started to work on Study Session 10. The big theme seems to be that you get differences between the actual taxes payables that go to the IRS and what income tax expenses appear on the financial statements. So in order to reconcile those, you have to adjust the financial statements using either deferred tax adjustments or deferred tax liabilities. Some will revert when the timing/ accounting issue comes to pass, and some will be permanent.
So today I started to work on Study Session 10. The big theme seems to be that you get differences between the actual taxes payables that go to the IRS and what income tax expenses appear on the financial statements. So in order to reconcile those, you have to adjust the financial statements using either deferred tax adjustments or deferred tax liabilities. Some will revert when the timing/ accounting issue comes to pass, and some will be permanent.
posted by William Lin at
8:10 AM
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