Deffered Taxation detailed Discussion

[jamalarain]

<font color="purple"><font color="green">Is there any difference between Temporary Differences and Timing Differences, if yes, what difference is that , and how the treatment for these would differ.a

Also , write about Deductible and Taxable Temporary differences, how ,easily, can we distinguish between these two.


Also write about Tax Base of Assest and Liabailities, here my intention is to discuss the matter in a way which clears the concept of all relevant reader, so, writer should avoid to paste the Paragraphs of IAS-12, though, they can use those paras, as reference.

Thanks,
Try to make this discussion as much productive as we can, to understand this topic.</font id="green"></font id="purple">

[iahmad]

Jamal IAS 15 is past (Before December 2003) deals the issue of Financial Statements in Inflationery Environment, but later this Standard was withdrwasn (ICAP had not adopted that Standards). The new concept which has been introduced in the IFRS & IAS ias Fair Value. Almost all the standards have been revised or in the process of revision to reflect the concept of Fair Value accounting.

As such there is not treatment of Inflation in the Financial Statments, you can only restate designated assets and liabilities at fair value.

[srsaqib]

Well Mr./Ms./Mrs. 'iahmad'

That question relate to taxation and you are answering that there is no treatment of inflation. Amazing...........

First understand the question and then answer


Saif-ur-Rehman Saqib
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+92 300 278 3602