Term
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Definition
| tax rate passed by various government bodies |
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Term
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Definition
| ETR = Income tax expense/Pre-tax income |
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Term
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Definition
| an item that is recognized in one of the two statements but not in the other, neither in the current period nor in future periods |
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Term
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Definition
| differences between the current income statement and the tax return that will have future consequences, called deferred taxes |
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Term
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Definition
| estimated future income tax deductions multiplied by the Statutory Tax Rate. Result from temporary differences between GAAP and the related tax rules. |
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Term
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Definition
| contra account to deferred tax asset account - used when there is less than 51% chance of DTAs being realized |
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