Accounting issues

accounting issues

Every accountant needs to understand the issues pertaining to accounting for income taxes. Please review your chapter on this topic and summarize the key issues. Please include the pronouncements relevant to this topic. I am looking for you to identify them and have a good command of them. If you fail to address the pronouncements, you will not earn points for this posting.

Please find at least one article online to support your posting and include a link. Remember to cite and provide a bibliography.

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Calculating the income tax of a company can prove to be a tricky and cumbersome task placed in the hands of many accountants. This is so because most laws governing these computations are often diverse and ambiguous leading to most individuals being confused within this mathematical arena. However those with a keen eye for the nuances in this field are often referred to as the “gurus” as companies fight to have them on their employee list. This is so because they help companies avoid making massive losses. They also help them avoid soiling their public image in humiliation………………