Handbook: Accounting for income taxes
Handbooks | July 2024
Latest edition: KPMG explains the accounting for income taxes in detail, providing examples and analysis.
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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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Meet our team
P.K. Barot
Partner, Dept. of Professional Practice, KPMG US
Matt Drucker
Partner, Dept. of Professional Practice, KPMG US
P.K. Barot
Partner, Dept. of Professional Practice, KPMG US
Matt Drucker
Partner, Dept. of Professional Practice, KPMG US