Intermediate Accounting, Thirteenth Edition

Chapter 19. ACCOUNTING FOR INCOME TAXES

LEARNING OBJECTIVES

After studying this chapter, you should be able to:

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Tax Uncertainty

One set of costs that companies manage are those related to taxes. In fact, in today's competitive markets, managers are expected to look for places in the tax code that a company can exploit to pay less tax to state and federal governments. By paying less in taxes, companies have more cash available to fund operations, finance expansion, and create new jobs. What happens, though, ...