CFA二所得税的学习笔记分享.docx
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1、CFA二级所得税的学习笔记分享CFA二级所得税的学习笔记分享1、Income tax expense = Taxes payable +Deferred income tax expense, 这右边第二项正的就是deferred taxliability ,负的就是 deferred tax asset。这个公式简单理解成所得税费用就包括实际交税(cashitem)和应该补交或可以抵扣的那部分税(non-cash item)。这也表明,deferred taxasset/liability 这两个科目的产生者B是以difference will reverse in future years
2、 为前提的。2、Deferredtaxestax liability之所以产生,是因为今年实际交税少了,以后还是要补的,所以可简单理解成负债。也就是说 payable income tax expense, ie. Taxable income deferredasset ,所以通常,税率上升的总体结 果表现就是 cause net income and stockholder s equity todecline.6、Deferred tax liability应该被当作一项负债还是权益?这在进行财务分析时尤需分清。Inmany cases, it may beunlikely that d
3、eferred tax liabilities will bepaid. For example, if a company has deferred tax liabilities occurring,solely because of the use of accelerated depreciation for tax purposesand the company s capital expenditures are expected to continue to growin the foreseeable future, the deferred tax liability wil
4、l not reverseand should be considered as equity. However, if growth is expected tostop or slow considerably, the liability will reverse and it should beconsidered as a true liability.也就是说,关键在于看这个递延负债究竟有无可能reverse!如果它将无限期的递延下去,那么把它看作权益更加合适。每每看到类似跟财务分析直接相关的小细节,还是由衷的开心,难说以后哪天就在研究报告中show 一下呢,不过需要先确认一下国内
5、是否也是如此操作呵。原来,学习会计也是有乐趣的,我的问题就是本科的那帮老师,以至于让我对专业完全丧失了兴趣。我无意说出任何刻薄的话,但是真的觉得为人师如此,无论是学识还是做人, 都是应该惭愧的。当然,我自己也应该惭愧,算了算了,现在辛苦些重新学起吧,今年把CPA的会计也报了,融会贯通加深印象。扯远了,还是回到上面这个问题。有时,如果这个non-reversal是可以肯定的话,那索性就把deferred tax liability 记入 stockholders equity ,这样做的后果就是 debt-to-equity ratio减小,有时这个减幅还是挺大的呢。Sometimes, ins
6、teadofreclassifying deferred liabilities as stockholders equity, the analystmight just ignore deferred taxes altogether. This is done ifnon-reversal is uncertain or financial statement depreciation is deemedinadequate and it is therefore difficult to justify an increase instockholders equity. Some c
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