Summary of ح1 معيار ضرائب الدخل IAS 12 ، الاصل الضريبي مؤجل ، الاتزام الضريبي المؤجل

In this video, the presenter discusses the income tax standard IAS 12, focusing on the distinctions between Accounting Profit, Tax Profit, and Economic Profit. Key financial strategies, methodologies, and market analyses presented include:

Main Financial Strategies and Concepts:

• Accounting Profit vs. Tax Profit:
  • Accounting Profit: Calculated based on accounting principles and international standards, reflecting profits in the Financial Statements.
  • Tax Profit: Influenced by tax laws, which dictate tax rates, deductible expenses, and methods of calculation (e.g., depreciation methods).
• Economic Profit: Defined as Accounting Profit minus opportunity costs, which accounts for the sacrifices made when choosing one investment over another.

Methodology for Analyzing Differences:

1. Preparation of Financial Statements:
   • Create separate columns for Accounting Profit and Tax Profit.
   • Record net profits before considering tax and rent expenses.
2. Adjustments for Advance Expenses:
   • Recognize advance expenses as assets in Accounting Profit.
   • Treat advance expenses as current expenses in Tax Profit.
3. Calculation of Tax Liabilities:
   • Calculate tax based on both accounting and Tax Profit.
   • Identify differences between the two calculations to understand deferred Tax Liabilities.
4. Recording Tax Expenses:
   • Recognize tax expenses based on accounting principles and adjust for any deferred Tax Liabilities.
5. Deferred Tax Liabilities:
   • Record any differences as deferred Tax Liabilities until they are realized.

Example Provided:

A hypothetical company with a net profit of $100,000, advance rents of $24,000, and a tax rate of 35% was analyzed to demonstrate the differences between accounting and tax profits, leading to the identification of deferred Tax Liabilities.

Presenters/Sources:

The video appears to be presented by a financial expert or educator, though specific names are not mentioned in the subtitles.

Notable Quotes

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Business and Finance

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