accounting principles, accounting system, income tax and tax accountant

What is a provision for income tax and how do you calculate it?

ThomsonReuters

SEPTEMBER 2, 2021

What is a tax provision? Simply put, a tax provision is the estimated amount of income tax that a company is legally expected to pay to the IRS for the current year. A tax provision is just one type of provision that corporate finance departments set aside to cover a probable future expense.

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[07/11/21] The Sad State of Accounting

Baruch Lev

JULY 11, 2021

No kidding, the accounting for estimates of future cash flows from insurance contracts is the major problem with corporate financial reports? Is insurance accounting, or the accounting for income taxes or government grants the reason why so few investors are interested in just-released financial reports?

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Account accountant accounted international accounting standards

Accountant Advocate

What is a provision for income tax and how do you calculate it?

[07/11/21] The Sad State of Accounting

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