Future Taxable Amounts and Deferred Taxes
{"Image DocumentName": "Future Taxable Amounts and Deferred Taxes", "Image ImageDescription": "Illustration: In Chelsea\u2019s situation, the only difference between the book basis and tax basis of the assets and liabilities relates to accounts receivable that arose from revenue recognized for book purposes. Chelsea reports accounts receivable at  30,000 in the December 31, 2011, IFRS-basis statement of financial position. However, the receivables have a zero tax basis. Illustration LO 2 Describe a temporary difference that results in future taxable amounts.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}