My publically -held company has given me the responsibility of preparing an income tax footnote. Since I have never done one before, how do I do this?
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Tax Professional Answers
Narelle MacKenzie
Honestly, if you have never done this before, your company should provide you some training on the tax provision calculation and disclosures. There a number of seminars and on-line training sessions. Your Chief Accounting Officer should be very interested in ensuring you get this right. As a starting point there is the accounting standard, ASC 740, and you could also look to other companies for examples of footnotes.
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554 weeks ago
Brett Layton
Also get the PWC and EY guides for accounting for income taxes from these firms websites… If you have trouble please e-mail me at bltaxes@gmail.com.
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551 weeks ago