Statements of Position

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Description

This draft Opinion proposes that differences between taxable income and pretax accounting income relating to undistributed earnings of subsidiaries, Domestic International Sales Corporations, corporate joint ventures, general reserves of savings and loan associations, and policyholders' surplus of stock life insurance companies are of such a nature that tax allocation would not ordinarily be required. However, earnings of a non-subsidiary investee taken up under the equity method (APB Opinion No. 18) would be considered a timing difference and tax allocation would be required under the provisions of APB Opinion No. 11.

Publication Date

1972

Relational Format

Book

Keywords

Income tax -- United States -- Accounting; Corporations -- United States -- Accounting

Disciplines

Accounting | Taxation

Comments

Originally published by: American Institute of Certified Public Accountants; Copyright and permission to reprint held by: American Institute of Certified Public Accountants.

Proposed APB opinion : Accounting for income taxes-- special areas;Accounting for income taxes-- special areas; Exposure draft (American Institute of Certified Public Accountants), 1972, Jan. 4

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