Awaiting Harvest

Terris, Harry
November 2012
American Banker Magazine;Nov2012, Vol. 122 Issue 11, p24
Trade Publication
The article looks into the valuation metrics for banks using deferred tax assets (DTAs) to reflect the value of losses and reduce future tax bills in the U.S. It explains how bank DTAs are used to determine banking activities and bridge the gap between book-keeping practices and tax bill assessments by authorities. It also discusses the accounting rules for companies to include valuation allowances against DTAs in their annual reports.


Related Articles

  • DEFERRED TAX CREDITS ARE LIABILITIES. Sands, J. E. // Accounting Review;Oct59, Vol. 34 Issue 4, p584 

    A corporation's taxable income is seldom the same as its reported income before taxes. The calculation of taxable income is only a step in the calculation of a tax assessment and the assessment of taxes involves political, economic, and administrative considerations, which are not relevant to...

  • Banks Find Downturn Has Hidden Silver Lining. Barba, Robert // American Banker;10/26/2011, Vol. 176 Issue 165, p1 

    The article reports on a tax benefit in the U.S. banking industry. The so-called deferred tax assets on losses during the recession can be used by banks when they produce steady profits. These valuation allowances can be used like tax credits and can inflate earnings. How Pinnacle Financial...

  • Deferred tax, CT rates and the Budget. Mellett, Howard // Accountancy;Aug1984, Vol. 95 Issue 1092, p120 

    Examines the impact of reduced corporate tax rates on deferred taxation accounting in Great Britain. Impact of the reduction on changes made to the system of capital allowances; Calculation of the amount of deferred tax by the deferral method and the liability method; Effect of capital...

  • New standard could be open to abuse.  // Accountancy;Jan2001, Vol. 127 Issue 1289, p11 

    This article reports on the recent publication of FRS (Financial Reporting Standards) 19, "Deferred Tax" in Great Britain and highlights the views of critics on this discounting proposal. Some in the accountancy profession are fearful that companies that are short on distributable profits will...

  • Recent results.  // Accountancy;May2001, Vol. 127 Issue 1293, p107 

    Reports developments related to bank accounting in Great Britain as of May 2001. Share of the results of joint ventures and associated undertakings by Barclays; Endorsement of the deferred tax regulation for a deferred tax asset set up by Broadcastle; Increase of income and operating profit of...

  • IAS 12 disclosures.  // Accountancy;May2006, Vol. 137 Issue 1353, p86 

    This article answers a question on how a company should handle property, plant and equipment with carrying amounts, tax bases and temporary differences for tax purposes under International Accounting Standards. A gross presentation is not required as the temporary differences relate to the...

  • ASSC still split on deferred taxation.  // Accountancy;Sep75, Vol. 86 Issue 985, p8 

    The article reports on the opposing view of the Accounting Standards Steering Committee about the exposure draft on accounting for deferred taxation in Great Britain. The idea of requiring all companies to account on the deferral basis has been abandoned. Instead, firms will be free to choose...

  • ASB goes international - sort of.  // Accountancy;Sep99, Vol. 124 Issue 1273, p7 

    The article reports that Accounting Standards Board has issued a draft standard on accounting for deferred tax, which proposes that Great Britain companies should make full provision for deferred tax, rather than partial provision as they have done for the past 20 years. Although the ASB says...

  • Davison pulls ASC back into line over banks. Atchley, Kate // Accountancy;May84, Vol. 95 Issue 1089, p4 

    Reports on developments relevant to the post-budget statement on deferred tax by the Accounting Standards Committee (ASC) in Great Britain compiled as of May 1984. Openness of ASC to lobbying; Impact on the practice of accounting for deferred taxation; Implications for the banking system.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics