Basics
The 3 tax accounting methods are accrual, hybrid, and?
Cash
DTA stands for?
Deferred Tax Asset
What two types of tax expense make up total tax expense?
Current & Deferred
FIN48 is another name for?
UTP/Uncertain Tax Provision
Two types of book to tax differences. Perms and ?
Temps
RTP Stands for
Return to Provision
Does minimum state tax get included in current or deferred provision expense?
Current
How many years loss does a VA calculate?
3
Meals and entertainment is an example of what type of difference?
Permanent
VA stands for?
Valuation Allowance
A rate change impacts which type of tax expense?
Deferred
What is an interim tax provision?
Quarterly provision
Depreciation is an example of what type of difference
Temporary
ETR stands for?
Effective Tax Rate
Deferred tax expense is seen on the balance sheet as a?
DTL/DTA
A UTP is recognized in the financials if it is " __ - likely- than - ___"
More Likely Than Not
ASC _ _ _
740
UTP Stands for?
Uncertain Tax Position
When booking current tax expense, the other side of the entry on the balance sheet is?
Income tax payable/receivable
Your effective tax rate = total tax expense / ?