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Temporary or Timing differences
Temporary/timing differences relate to those items that are adjusted in the current period and are again adjusted in subsequent financial periods for tax purposes. E.g. investment income accrued in profits before tax will be deducted in the current period for tax purpose but will be added back in subsequent financial periods when investment income is received.All temporary differences therefore result to deferred tax. However, currently the computation of deferred tax is based on the balance sheet approach whereby temporary differences are given as the difference between the carrying amount of an asset or liability (book value) and its tax base.The carrying amount is the accounting value or book value of an asset or liability. The tax base is the value attributable to asset or liability for tax purpose.
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Process of ABC Analysis • Classification: On the origin of expected use, the items of inventory are categorized according to their categories and per unit Price of each item
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Continuing growth of the company has required that we issue the company's corporate debt soon. As you know, in 6 months we plan to issue $10 million worth of 20-year corporate bond
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