Handbook: Accounting for income taxes
Handbooks | July 2024
Latest edition: KPMG explains the accounting for income taxes in detail, providing examples and analysis.
Our Handbook is designed to assist in an understanding of the application of ASC 740, providing in-depth guidance on a wide range of implementation issues.
Applicability
- All entities subject to income tax
Relevant dates
- Effective immediately
Key impacts
Among other things, this July 2024 edition incorporates:
- New guidance on income tax disclosures that will be effective upon the adoption of ASU 2023-09 (improvements to income tax disclosures)
- New guidance and examples related to the tax implication of recognizing credit losses on available-for-sale (AFS) debt securities and for purchased financial assets with credit deterioration
Report contents
- Temporary differences
- Tax calculation
- Valuation of deferred tax assets
- Changes in tax laws, rates or status
- Tax effects of business combinations
- Foreign operations
- Income tax issues associated with share-based payment arrangements
- Financial statement presentation and disclosure
- Other considerations
- Examples of scheduling temporary differences
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Accounting for Income Taxes
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