Accounting for Divestitures: A Comparison of Sell-Offs, Spin-Offs, Split-Offs, and Split-Ups

1999 ◽  
Vol 14 (1) ◽  
pp. 75-97 ◽  
Author(s):  
John Cumming ◽  
Tina Y. Mallie
Keyword(s):  
Income Tax ◽  
Accounting Standards ◽  
Financial Accounting ◽  
Federal Income Tax ◽  
Potential Impact ◽  
Financial Press

In the 1990s, the financial press has frequently announced corporate spin-offs and split-offs. Financial accounting textbooks, though, contain little or no coverage of spin-offs, split-offs and other types of divestitures. This paper discusses the reasons for divestitures, identifies four types of divestitures, describes the characteristics and common conditions associated with each type, reviews the accounting standards and federal income tax rules and regulations pertaining to each type, illustrates the application of the accounting standards for each type and discusses the potential impact of these accounting standards and tax rules and regulations on a corporation's choice of one type of divestiture over another. As such, this paper may be used as a supplement in an upper-division financial accounting course.

scholarly journals EFEK KONVERGENSI KERANGKA DASAR IFRS (IAS 12 REVISI) TERHADAP PSAK 46

MAKSIMUM ◽  
2019 ◽  
Vol 7 (1) ◽  
pp. 48
Author(s):  
Ida Kristiana
Keyword(s):  
Cash Flow ◽  
Income Tax ◽  
Accounting Standards ◽  
Capital Budgeting ◽  
Financial Statements ◽  
Comparison Method ◽  
Financial Accounting ◽  
Financial Statement ◽  
Financial Reports ◽  
Unit Of Analysis

This purpose of this study to examine the presence or absence of securities caused by the convergence of IFRS to Statement of Accounting Standards of Income Tax (PSAK 46), by simulating the financial statements of PT. Garuda Indonesia Airlines (GIA) and PT. Telkom Indonesia. This study also looks at the differences between financial reports that are not convergent compared with financial reportsthat are already convergent with IFRS  This study used a comparison method between the statements presented in IFRS with the statements presented in PSAK 46. The unit of analysis in this study is the International Financial ReportingStandard (IFRS) and Statement of Financial Accounting Standards on income tax accounting as well as books and articles related to both. The results of this study indicate that the convergence of the IFRS framework to PSAK 46 has a significant impact on the financial statements, especially on capital budgeting, because the tax will affect the calculation of cash flow. Besides this convergence also has an impact on the tax calculation in the financialstatementsKeywords: IFRS, PSAK, Financial Statement, Convergence

scholarly journals ANALYSIS CALCULATION OF DEPRECIATION FIXED ASSETS ACCORDING TO FINANCIAL ACCOUNTING STANDARDS AND TAX LAWS AS WELL AS IMPACT ON TAXABLE INCOME IN PT. MASSINDO SINAR PRATAMA MANADO

2018 ◽  
Vol 7 (01) ◽  
pp. 11
Author(s):  
Yuvita M. F Goni ◽  
Novi Swandari Budiarso
Keyword(s):  
Income Tax ◽  
Accounting Standards ◽  
Balance Method ◽  
Financial Accounting ◽  
Taxable Income ◽  
Line Method ◽  
Straight Line ◽  
Fixed Assets ◽  
Tax Laws ◽  
Straight Line Method

            Calculation of depreciation fixed assets according to financial accounting standards using five methods: the straight-line method, declining balance method, sum of the years digit method, service hours method, and the unit of productions method. While according to taxation rules just only use two method: the straight-line method and the declining balance method. The differences in the use of depreciation methods according to financial accounting standards and tax rules will result in fiscal correction. According to the depreciation expense is deductible expense for purpose of calculating income tax. The purpose of this study was determine the application of methods of depreciation fixed assets according to financial accounting standards and tax laws as well as impact on taxable income PT. Massindo Sinar Pratama Manado. The analytical method used is descriptive qualitative analysis method. The results showed the application of the method of calculation of depreciation PT. Massindo Sinar Pratama Manado in accordance with the provisions of the tax, but an error in the calculation of depreciation that increase the value of the company taxable income. PT. Massindo Sinar Pratama Manado should be more careful and referring to the tax rules in calculating the value of depreciation due to give effect to net profit before tax (taxable income) of the company, so that it will also to give effect to income tax to be paid by the company. Keywords : depreciation, fixed assets, financial accounting standards, tax rules, taxable income

The Pricing of Realized Tax Benefits from NOL Carryforwards: Effect of Income Statement Presentation

2008 ◽  
Vol 30 (1) ◽  
pp. 1-27 ◽  
Author(s):  
T. J. Atwood ◽  
J. Kenneth Reynolds
Keyword(s):  
Income Tax ◽  
Accounting Standards ◽  
Income Taxes ◽  
Financial Accounting ◽  
Separate Section ◽  
Income Statement ◽  
Tax Benefits ◽  
One Year ◽  
Tax Expense

ABSTRACT: We examine the pricing of realized tax benefits from net operating loss (NOL) carryforwards across income statement presentations. During the period 1987 through 1992, firms adopting SFAS No. 96 reported these tax benefits as part of income before extraordinary items (via a reduced provision for income tax expense), while non-adopting firms reported these benefits as extraordinary income items under APB No. 11. We provide evidence that NOL tax benefits were priced rationally when reported as extraordinary income items under APB No. 11; however, NOL tax benefits were overpriced, relative to their one-year-ahead persistence, when included in income before extraordinary items under SFAS No. 96. Our results suggest that the rational pricing of income tax information is affected by its presentation in the income statement, despite the clear reporting of sufficient additional details in the footnotes. Our findings provide support for the Financial Accounting Standards Board’s tentative decision to report income taxes in a separate section of the income statement.

scholarly journals The European Commission Proposal for a Council Directive on a Common Corporate Tax Base (CCCTB) as an Example of Applying Financial Accounting Standards in Taxation on the Corporate Income Tax

Teisė ◽  
2021 ◽  
Vol 119 ◽  
pp. 52-65
Author(s):  
Martynas Endrijaitis
Keyword(s):  
European Commission ◽  
Income Tax ◽  
Accounting Standards ◽  
Legal Regulation ◽  
Financial Accounting ◽  
Corporate Income Tax ◽  
Corporate Tax ◽  
Tax Base ◽  
Council Directive ◽  
Accounting Rules

This article discloses the conception of CCCTB and the relations between CCCTB and the legal regulation of financial accounting, including an analysis of concrete examples of how financial accounting rules are applied in CCCTB. The research highlights the necessity of applying financial accounting standards in CCCTB.

scholarly journals ANALISIS PERHITUNGAN PENYUSUTAN AKTIVA TETAP MENURUT STANDAR AKUNTANSI KEUANGAN DAN PERATURAN PERPAJAKAN PADA CV. SAMIA SEJAHTERA

2018 ◽  
Vol 13 (04) ◽  
Author(s):  
Faneisya Pesak ◽  
Harijanto Sabijono ◽  
Natalia Gerungai
Keyword(s):  
Analytical Method ◽  
Income Tax ◽  
Descriptive Analysis ◽  
Accounting Standards ◽  
Financial Accounting ◽  
Analysis Method ◽  
Income Statement ◽  
Fixed Assets ◽  
The Impact ◽  
Reduction Of Costs

In calculating depreciation of fixed assets may use depreciation method in accordance with financial accounting standards and tax regulations. Differences in recognition of depreciation expense will result in fiscal correction. The purpose of this study was conducted to find out how the application depreciations of methods of fixed assets according to tax regulations and financial accounting standards, as well as the impact of comparative calculations. The analytical method used is descriptive analysis method. The results show that the company has calculated depreciation expense in accordance with financial accounting standards, but there are still errors in the calculation of depreciation, and the company itself has not done the calculations in accordance with tax regulations. Any difference in depreciation expense according to financial accounting standards and tax laws will result in a positive fiscal correction resulting in the reduction of costs recognized in the commercial income statement. With the reduction of the recognition of these costs can have an impact on the addition of Income Tax (PPh). Value of PPh CV. Samia Sejahtera 2017 Rp18.323.750,00 while the value of PPh CV. Samia Sejahtera by fiscal Rp28.940.000,00 so there is a difference of Rp10.616.250,00.Keywords : Depreciation, Fixed Assets.

scholarly journals PELAPORAN PAJAK PENGHASILAN PELAKU USAHA KECIL DAN MENENGAH DI DESA KARANGKUTEN KECAMATAN GONDANG KABUPATEN MOJOKERTO

2020 ◽  
Vol 6 (1) ◽  
pp. 28-31
Author(s):  
Aristha Purwanthari Sawitri ◽  
Rina Fariana ◽  
Bayu Adi Bayu Adi ◽  
Suhariyanto Suhariyanto ◽  
Martha Suhardiyah
Keyword(s):  
Community Service ◽  
Financial Reporting ◽  
Income Tax ◽  
Accounting Standards ◽  
Financial Statements ◽  
Financial Accounting ◽  
Self Assessment ◽  
Financial Reports ◽  
Service Activity ◽  
Tax Reporting

Guna mempermudah dalam melakukan penghitungan pajak dan pelaporannya secara self assesment maka pelaku UMKM perlu melakukan penyusunan pelaporan fiskal. Dalam penyusunan pelaporan fiskal didasarkan atas pelaporan keuangan komersial yang disesuaikan dengan peraturan perpajakan. Bagi pelaku UMKM dapat menggunakan dasar Standar Akuntansi Keuangan Untitas Tanpa Akuntabilitas Publik (SAK-ETAP) yang telah dibuat oleh Ikatan Akuntan Indonesia. Desa Karang Kuten Kecamatan Gondang Kabupaten Mojokerto merupakan desa yang memiliki banyak potensi dan UMKM. Pada desa ini ditemukan bahwa pelaku UMKM masih banyak yang belum memiliki pemahaman mengenai pajak terutama belum memahami perhitungan pajak yang harus dibayar serta belum memahami pembuatan pelaporan pajak. Berdasarkan permasalahan yang dihadapi oleh pelaku UMKM, maka tim dosen memberikan solusi atas permasalahan yang ditemukan antara lain  memberikan pelatihan penyusunan laporan keuangan sederhanan guna membantu pelaku UMKM.  Metode yang digunakan dalam kegiatan pengabdian ini pertama sosialisasi, kedua pelatihan dan ketiga pendampingan. Hasil kegiatan pengabdian kepada masyarakat adalah pelaku UMKM telah mampu untuk menyusun laporan keuangan untuk mengetahui jumlah omzet, pelaku UMKM telah mampu menghitung pajak penghasinal final dan menyusunan laoran fiskal sebagai dasar penghitungan pajak penghasilan kepada pengusaha UMKM di Desa Karang Kuten Kecamatan Gondang Kabupaten Mojokerto. Dengan pelaksanaan kegiatan pengabdian ini dapat meningkatkan kesadaran untuk menjalankan kewajibannya dalam membayar pajak.In order to make it easier to do tax calculation and self-assessment reporting, MSME actors need to prepare fiscal reporting. In the preparation of fiscal reporting based on commercial financial reporting adjusted to tax regulations. MSMEs can use the basis of the Financial Accounting Standards without Public Accountability (SAK-ETAP) that has been made by the Indonesian Institute of Accountants. Karang Kuten Village Gondang District Mojokerto Regency is a village that has a lot of potential and MSMEs. In this village, it was found that there were still many SMEs who did not have an understanding of taxes, especially not understanding the calculation of taxes to be paid and did not understand making tax reporting. Based on the problems faced by SMEs, the lecturer team provides solutions to the problems found, among others, providing training in preparing financial statements to help MSME entrepreneurs. The method used in this community service activity is firstly socializing, secondly training and thirdly mentoring. The results of community service activities are that MSMEs have been able to compile financial reports to find out the turnover, MSMEs have been able to calculate the final criminal tax and compile a fiscal report as a basis for calculating income tax for MSME entrepreneurs in Karang Kuten Village, Gondang District, Mojokerto Regency. By carrying out this service activity, it can increase awareness to carry out its obligations in paying taxes.

scholarly journals Pengaruh Penerapan PSAK No. 46 Terhadap Laporan Laba Rugi Pada Tiga Perusahaan Yang Terdaftar di BEI

2018 ◽  
Vol 2 (1) ◽  
pp. 031-046
Author(s):  
Abdilla Rahmania Kusmala ◽  
Hastoni .
Keyword(s):  
Income Tax ◽  
Stock Exchange ◽  
Accounting Standards ◽  
Income Taxes ◽  
Financial Accounting ◽  
Income Statement ◽  
The Difference ◽  
Deferred Tax Liabilities ◽  
Deferred Tax ◽  
Accounting For Income Taxes

The company follows a accounting standards generally accepted in drawing up the financial statements, namely Financial accounting standards (SAK). For various reasons, that standard is different from the taxation provisions also utilize accounting information. Due to the difference of a few things in Financial accounting standards (SAK) with the provisions of the Regulation militate in% u2013 Invitation taxation. Bond Accountant Indonesia (IAI) has confirmed the Statements of financial accounting standards (PSAK) No. 46 concerning accounting for income taxes, is a new thing in the accounting standards for enterprises in Indonesia. PSAK No. 46.The purpose of this research is to know concerning PSAK NO. 46 and see if PSAK NO. 46 already applied on the PT Astra International Tbk, PT Mustika Ratu Tbk, PT Mayora Indah Tbk. And how its influence from the application of PSAK NO.46 of the income statement of the company. The study was conducted at the corner of Indonesia stock exchange at STIE Kesatuan Bogor. The results showed that in the application of PSAK NO. 46 will develop assets and deferred tax liabilities interest arising due to temporary differences. The influence of the application of PSAK NO. 46 on the income statements give rise to a difference between the burden of income tax with income tax debt resulting from the existence of differences in recognition of tax-deferred interest assets, which is set to PSAK NO. 46.

scholarly journals ANALISIS KOREKSI FISKAL DALAM RANGKA PERHITUNGAN PPH BADAN PADA PT. BANK PERKREDITAN RAKYAT NUSA UTARA

2016 ◽  
Vol 11 (1) ◽  
Author(s):  
Brilliant Joy Leonardo Kalangie ◽  
Grace B. Nangoi ◽  
Inggriani Elim
Keyword(s):  
Income Tax ◽  
Accounting Standards ◽  
Financial Statements ◽  
Financial Accounting ◽  
Special Treatment ◽  
Tax Law ◽  
Accounting System ◽  
Income Loss ◽  
Taxable Income ◽  
Income Statement

The income statement is something that is very important in the financial statements. In the income statement presents income (revenue), costs (expenses) and income (profit / losses) a company within a certain time period or periods. Income statement itself is also a financial statement must be derived from the accounting system, both made in accordance with provisions in the Law - Tax Law as well as those in charge based financial Accounting Standards (GAAP). Basically, both of these things (Law - Tax Law and the Financial Accounting Standards) regulate the same thing that is about how much the amount of the charge to the consumer. However, the fiscal correction, we can find something different. This difference is what happens when the accounting of income in measuring too low and unnatural because of special treatment that favor the occurrence of this. Fiscal correction itself is a correction or adjustment must be done before calculating the taxpayer's income tax for corporate taxpayers and tax personal use of accounting in calculating taxable income. The aim of this study was to determine the fiscal correction is done by PT. Rural Bank Nusa North in order calculating corporate income tax. This study took place at the office of PT. Rural Bank Nusa North. The company is located at Jl. Nusantara No. 98 Complex Bersehati Market Manado. The object of this study is the income / loss of PT. Rural Bank Nusa North. This study uses descriptive qualitative research because in practice, such as data, analysis and interpretation of the meaning and the data obtained. In this study, the author will study the financial statements of the profit-rui in 2013 and 3014 were obtained from the company. Then analyzed whether fiscal reconciliation process made are correct and in accordance with regulations Regulations - Tax regulations prevailing in Indonesia at this time. The results showed that the company has made a statement profit / loss of commercial accordance with the applicable accounting standards, and has made statements of income / tax loss properly in accordance with the tax laws and regulations. So it can be taxable income of PT. RB Nusa North, then calculate the income tax in accordance with the calculation of the applicable tax rate on taxable income (PKP) from PT. RB Nusa North.

scholarly journals ANALISIS KOREKSI FISKAL DALAM RANGKA PERHITUNGAN PPH BADAN PT. KAWANUA DASA PRATAMA

2014 ◽  
Vol 8 (3) ◽  
Author(s):  
Felix Daniel Wongso ◽  
Jantje Tinangon ◽  
Stanley Walandouw
Keyword(s):  
Income Tax ◽  
Accounting Standards ◽  
Financial Statements ◽  
The State ◽  
Financial Accounting ◽  
Corporate Income Tax ◽  
Financial Reports ◽  
Taxable Income ◽  
Income Statement ◽  
A Company

PT.Kawanua Dasa Pratama is a company which is a resident and as an entity that has the responsibility to calculate, report, and deposit the tax payable to be paid to the State. However, there are problems that will occurred in the payment of taxes. This is due to the particular financial reports, especially income statement have commercial income statement and fiscal income statement. Both of them are distinctly different, from some point of views about Profit Commercial that refers to the Financial Accounting Standards, while referring to the Act Taxable Income - Tax Act applicable. These differences are simply found in the presence of income and expenses are recognized as income or expense by the company but are not recognized by the Tax. These differences require an adjustment or reconciliation so that the amount of corporate income tax payable are calculated by the company and the tax could be alike. The purpose of this study is to determine the fiscal income statement derived from the financial statements of fiscal correction in the commercial. In this study, obtained after correction of the fiscal profit of Rp 2.241.020.568 and had to pay tax of Rp 560.255.142.

scholarly journals EFEK KONVERGENSI KERANGKA DASAR IFRS (IAS 12 REVISI) TERHADAP PSAK 46

MAKSIMUM ◽  
2018 ◽  
Vol 8 (1) ◽  
pp. 48
Author(s):  
Ida Kristiana
Keyword(s):  
Cash Flow ◽  
Income Tax ◽  
Accounting Standards ◽  
Capital Budgeting ◽  
Financial Statements ◽  
Comparison Method ◽  
Financial Accounting ◽  
Financial Reports ◽  
Unit Of Analysis ◽  
Tax Accounting

ABSTRACT  This  purpose  of  this  study  to  examine  the   presence  or  absence  of  securities  caused  bythe convergence of IFRS to Statement of Accounting Standards of Income Tax    (PSAK 46), by simulating the financial statements of PT. Garuda Indonesia Airlines (GIA) and PT. Telkom Indonesia. This studyalso looks at the differences between financial reports that are not convergent compared with financialreports that are already convergent with IFRSThis  study  used  a  comparison  method  between  the  statements  presented  in  IFRS  withthe statements presented in PSAK 46. The unit of analysis in this study is the International Financial ReportingStandard (IFRS) and Statement  of  Financial  Accounting Standards on  income  tax accounting as well asbooks and articles related toboth.The results of this study indicate that the convergence of the IFRS framework to PSAK 46 has asignificant impact on the financial statements, especially on capital budgeting, because the tax will affect thecalculation of cash flow. Besides this convergence also has an impact on the tax calculation in the financialstatements  

Sign in / Sign up

Export Citation Format

Share Document