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Accounting for Deferred Tax

Continuing our series on tax accounting Toni Dyson and Claire Plant of Bourne Business Consulting LLP discuss the differences between the various accounting standards in accounting for deferred tax
In this article we draw on our specialist capital allowances and compliance experience to continue our explanation of deferred tax accounting. We will work through the basic accounting principles of UK GAAP IFRS and US GAAP with regard to deferred tax as well as comparing and contrasting the effects of the different accounting standards through an illustrative example. Finally we will consider the harmonisation of the different accounting standards.
UK GAAP adopts a profit and loss approach by...

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