A request was recently received for a mind map on IAS 12 Income Taxes, so here you go! I hope it’s useful to you.
Introduction to Current and Deferred Tax under IAS 12
Throughout your working career and in your studies, you may have noticed instances where the tax treatment and the accounting treatment of an item vary.
Introduction to Deferred Tax for IAS 12 Income Taxes
We’ve studied how current tax is the amount of tax payable to the taxation authorities in the current financial period.
Deferred Tax Liabilities and Assets for IAS 12 Income Taxes
Deferred Tax Liabilities
When deferred tax is being provided for, a full provision method is used under IAS 12.
A Practical Guide to Deferred Tax for IAS 12
The first thing to do in an exam is look at the carrying amount of the asset or liability which is its net book value, in the financial statements.