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Financial vs Tax Accounting

SMBAccountant

One type of accounting that is well-known is tax accounting. According to Investopedia, tax accounting is “a structure of accounting methods focused on taxes rather than the appearance of public financial statements”. Tax accounting applies to individuals, businesses, and corporations.

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

ThomsonReuters

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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Top 10 Common Accounting Interview Questions with Answers

Simple Accounts

It is an updated digital version of bookkeeping and it aids accountants to work smarter than harder. . Generally Accepted Accounting Principles . Explain the latest changes introduced in Tax. You must be aware of new changes in tax, accounts, etc. Are accounting and auditing the same?

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