Just one step too far?

Keegan, Mary
January 1997
Accountancy;Jan1997, Vol. 119 Issue 1241, p70
Trade Publication
The article comments on the implications of the revision of the International Accounting Standards (IAS) Committee's IAS 12 on income taxes. Under the revised IAS 12, companies whose financial statements comply with IAS must record the potential tax effects of every transactions. Deferred tax liabilities will be included in the company balance sheets. The revised standard also prohibits the discounting of deferred tax balances.


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