ACCOUNTING STATEMENTS AT THE PRESENT STAGE: PROBLEMS AND SOLUTIONS, CHANGES IN 2020

The purpose of the study is to study the main problems of financial (accounting) reporting in 2020 and to determine the solution approaches. The article discusses the key changes related to the accounting (financial) statements in 2020, the main problems and ways to solve them; it provides data on calculating indicators of the accounting report. The most acute problems are the changes in reporting forms and tax legislation in general, as well as falsification of information. Great difficulties will be caused by the changes in legislation, including: the use of telecommunication channels, the change of reporting forms, the transition to electronic employment record books (reporting will be submitted for the first time, and, therefore, veiling is possible); the change in calculating the report on financial results; clarification by the Ministry of Finance on the name and composition of indicators that reveal the amount of income tax. The scientific novelty of the work is reflected in overcoming the falsification of information by increasing the level of inventory, reducing the power of influence on the accounting employee, the owner or the company manager, and by a low level of costs. The proposed transfer of these procedures to the outsourcing, which should be carried out by accounting outsourcing companies. Participation in webinars conducted by tax inspections should be made mandatory, to eliminate errors in filling out declarations. The main goal will be to forestall possible questions from the accountants or to answer them online, which will help reducing errors. Registration should be made in the inspection in which the organization is registered.

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Assessment of changes in the application of the accounting regulation pbu 18/02 “Аccounting for income tax calculations” since 2020

Buhuchet v sel'skom hozjajstve (Accounting in Agriculture) ◽

10.33920/sel-11-2007-01 ◽

2020 ◽

pp. 10-24

Author(s):

Irina Selezneva ◽

Elena Shlyapnikova

Keyword(s):

Income Tax ◽

Financial Statements ◽

Accounting Data ◽

Current Income ◽

Accounting Regulation ◽

New Concepts ◽

Net Profit ◽

The Russian Federation ◽

Ministry Of Finance ◽

Tax Payers

The article assesses the changes made by the Order of the Ministry of Finance of the Russian Federation dated 20.11.2018 No. 236n v PBU 18/02 “Accounting for settlements with the budget for income tax”. The application of the new norms of PBU 18/02 is mandatory for corporate income tax payers with accounting (financial) statements for 2020. The essence of the problem is that the updated PBU 18/02 contains new concepts, new calculations of indicators necessary for reflection in accounting and accounting (financial) statements. The article consists of six parts, beginning with an introduction and ending with conclusions. The introduction substantiates the relevance of the study. At the beginning of the article, the purpose and objectives of the research are defined, as well as the materials, methods and conditions for conducting the research. The results of the study and their discussion are presented below. In the article, the authors highlight the problem of transition from the previously existing norms of PBU 18/02 to the new norms applied from 2020. The main part compares the concepts and indicators used in 2019 and 2020 in accordance with the requirements of PBU 18/02. The article also addresses the issues of evaluating work in progress in accordance with the requirements of regulatory legal acts in the field of accounting and taxation. The procedure for applying the norms of PBU 18/02 is shown on a specific example and the calculation procedures made that justify the occurrence of temporary differences that lead to the recognition of deferred income tax, as well as conditional income tax expense and current income tax on the accounting accounts. For clarity and comparison, the indicators for the application of PBU 18/02 in 2019 and 2020 are presented in the tables. In addition, the tables show the schemes of accounting transactions for accounting calculations with the budget for income tax in two ways to determine the current income tax: based on accounting data and based on tax Declaration data. Having considered a specific example of the procedure for applying the norms of PBU 18/02 in the version up to 2020 and in the current version from 2020, the authors conclude that changes in the procedure for identifying temporary differences do not mean a change in their value and the value of net profit

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Adoption of IFRS in Brazil and the Consequences to Accounting Education

Issues in Accounting Education ◽

10.2308/iace-50373 ◽

2012 ◽

Vol 28 (2) ◽

pp. 235-242 ◽

Cited By ~ 17

Author(s):

L. Nelson Carvalho ◽

Bruno M. Salotti

Keyword(s):

Income Tax ◽

Rare Case ◽

Accounting Standards ◽

Financial Statements ◽

Company Law ◽

Accounting Education ◽

Consolidated Financial Statements ◽

Tax Legislation ◽

The Individual ◽

Safe Path

ABSTRACT: Brazil is a rare case of a complete adoption of IFRS, not only for consolidated financial statements, but also for the individual ones. Very few countries dared to converge their accounting standards toward IFRS in the company-only financial statements, probably afraid of the tax or dividends impact. Brazil made the ambitious move, changing the Company law and altering the income tax legislation in such a way that a safe path was built to bridge from the old BR GAAP standards to IFRS.

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PECULIARITIES OF FINANCIAL AND TAX ACCOUNTING OF TRANSACTIONS ON DEBT CONVERSION

Theory and Practice of Forensic Science and Criminalistics ◽

10.32353/khrife.2015.38 ◽

2016 ◽

Vol 15 ◽

pp. 312-321

Author(s):

D. Yu. Poroshin ◽

N. Yu. Semenova

Keyword(s):

Income Tax ◽

Value Added ◽

Financial Accounting ◽

Value Added Tax ◽

Tax Legislation ◽

Definition Of ◽

Economic Studies ◽

Tax Accounting

The article deals with peculiarities of conducting forensic economic studies connected with collecting income tax and value added tax as well as the order for recording debt conversion in financial accounting. It discusses methods that are used while conducting the studies, lists the relevant articles of normative acts that regulate the order of recording debt conversion transactions in financial accounting. It also considers a number ofpossible situations for debt conversion transactions, the order of recording them in financial accounting and tax consequences of these transactions. Having analyzed the requirements of the tax legislation, the article claims that debt conversion transactions constitute an object exempt of income tax and vale added tax because: such transactions cannot be classified as obtaining income and do not constitute trade in debt obligations; the transfer of credit debt of one debtor to another is still a liability and not a commodity (work or service); such transactions do not conform with any definition of transactions for the supply of goods, services or factoring.

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

MAKSIMUM ◽

10.26714/mki.7.1.2017.48-57 ◽

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

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The Incremental Usefulness Of Income Tax Allocations In Predicting One-Year-Ahead Future Cash Flows

Journal of Applied Business Research (JABR) ◽

10.19030/jabr.v23i4.1378 ◽

2011 ◽

Vol 23 (4) ◽

Author(s):

Benjamin P. Foster ◽

Terry J. Ward

Keyword(s):

Cash Flow ◽

Income Tax ◽

Financial Statements ◽

Cash Flows ◽

Financial Accounting ◽

Font Size ◽

Long Time ◽

Operating Cash Flow ◽

One Year ◽

Future Cash Flows

<h2 style="text-align: justify; margin: 0in 34.2pt 0pt 0.5in; mso-hyphenate: none; tab-stops: center 3.25in;">Interperiod income tax allocation has been a hotly debated financial accounting issue for a long time.  Critics of interperiod tax allocation frequently question the usefulness of the extra information, particularly considering the FASB’s decision usefulness approach stated in its Conceptual Framework.  This study extends the research of Cheung et al. (1997) and Krishnan and Largay (2000) by using the ability to predict future taxes paid and future cash flow as criteria to evaluate the usefulness of interperiod tax allocation. This study extends previous research by examining not only whether interperiod tax allocation included in financial statements is useful, but also by examining whether such information is incrementally useful beyond taxes paid. For predicting future taxes paid and operating cash flow, our analyses provides little evidence that interperiod tax allocation information included in financial statements adds incremental predictive value beyond taxes paid as reported on the cash flow statement.</h2>

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Penerapan Pernyataan Standar Akuntansi Keuangan (PSAK) No. 27 pada Koperasi Pegawai Biotek LIPI Cibinong di Bogor

Jurnal Ilmiah Binaniaga ◽

10.33062/jib.v6i1.219 ◽

2019 ◽

Vol 6 (1) ◽

pp. 13

Author(s):

Jeffry .

Keyword(s):

Balance Sheet ◽

Accounting Standards ◽

Financial Statements ◽

Financial Accounting ◽

Made In

Preparation of Balance Sheet Biotech Employees Cooperative LIPI Cibinong not in accordance with Statement of Financial Accounting Standards (SFAS) No.. 27, so that the author made in accordance with SFAS No.. 27. Biotech Employees Cooperative LIPI should Cibinong, recruiting an employee who understands the preparation of financial statements that adhere to the Statement of Financial Accounting Standards (SFAS) No.. 27.

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A Case Integrating Financial and Tax Accounting Using the Balance Sheet Approach to Account for Income Taxes

Issues in Accounting Education ◽

10.2308/iace-51750 ◽

2017 ◽

Vol 32 (4) ◽

pp. 41-49 ◽

Cited By ~ 1

Author(s):

Melissa P. Larson ◽

Troy K. Lewis ◽

Brian C. Spilker

Keyword(s):

Income Tax ◽

Balance Sheet ◽

Financial Statements ◽

Income Taxes ◽

Financial Accounting ◽

Financial Statement ◽

Publicly Traded ◽

Taxable Income ◽

Accounting For Income Taxes ◽

Advanced Version

ABSTRACT This case guides students through the process of reconciling financial (book) income to its taxable income, calculating the tax provision, preparing the income tax footnote disclosure, and completing Form 1120, Schedule M-1 for a fictitious publicly traded client. In the case, students are presented with the company's financial statements, including supporting schedules, and a tax basis balance sheet. Students are asked to calculate the tax provision and construct the income tax footnote as a pre-class assignment. In class, students debrief the tax provision calculation and income tax footnote and use information contained in the income tax footnote to reconcile the company's book to taxable income. Students completing this case should be able to (1) interpret the differences between a book basis balance sheet and a tax basis balance sheet, (2) create the income tax footnote disclosure using the ASC 740 balance sheet approach to accounting for income taxes, and (3) use information in the financial statement footnote and related disclosures to determine a company's book-tax differences and reconcile its book to taxable income. This case is designed for an intermediate financial accounting or tax course but an advanced version of the case could be used in a graduate financial accounting or graduate tax course.

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

SHARE SHaring - Action - REflection ◽

10.9744/share.6.1.28-31 ◽

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.

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DEVELOPMENT OF FINANCIAL ACCOUNTING AND INTERNATIONAL STANDARDS FOR FINANCIAL STATEMENTS IN PART OF TAX ON ORGANIZATION PROFIT

EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA ◽

10.36871/ek.up.p.r.2020.03.03.019 ◽

2020 ◽

Vol 3 (3) ◽

pp. 100-105

Author(s):

V. I. BRATCEV ◽

◽

M. A. KAZANOVA ◽

A. V. ROYBU ◽

◽

...

Keyword(s):

Income Tax ◽

Reporting System ◽

Financial Statements ◽

International Standards ◽

Financial Accounting ◽

Corporate Income Tax ◽

Tax System ◽

National Accounting ◽

Tax Accounting

The article defines the need and prerequisites for bringing the national accounting and reporting system in line with international standards. Problems and prospects of the application of IFRS by Russian enterprises in terms of tax accounting are considered. The process of reforming the tax system, including tax accounting for corporate income tax, is analyzed.

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Excel For Accounting Untuk Penyusunan Laporan Keuangan Pada Yayasan Panti Asuhan

Akuntansi dan Manajemen ◽

10.30630/jam.v15i1.61 ◽

2020 ◽

Vol 15 (1) ◽

pp. 102-107

Author(s):

Eka Rosalina ◽

Wiwik Andriyani ◽

Afridian Wirahadi ◽

Fera Sriyuniati ◽

Desi Handayani

Keyword(s):

Accounting Standards ◽

Financial Statements ◽

Financial Accounting ◽

Financial Statement ◽

Needs Analysis ◽

Legal Entity ◽

And Training ◽

Made In

Financial Statements is an accounting process that are arranged and reported objectively which can be useful for its users. Each financial statement preparation must be based on applicable financial accounting standards. One of them is the preparation of financial statements for the foundation. A foundation is a legal entity that has the aims and objectives of social, religious and humanitarian benefits. Case Study conducted at the Shine Al-Falah Foundation. The procedures in preparing the financial statements of the Al Falah foundation start from with studying the transactions in the form of cash in and cash out transaction books. After that, a needs analysis is made in the preparation of financial statements using Exel For Accounting which starts from plan the Account List, making ledgers, work sheet and continuing to design the Financial Statements of the Foundation. Last is to provide assistance and training to the preparation of financial statements using Exel for Accounting.

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