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IAS 12 – Introduction – ACCA Financial Reporting (FR)

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  2. Hello sir
    How do we know if it’s a under or over provision if actual tax paid amount is not given? Because usually we get to know about it by comparing prior year tax liability and actual tax paid.

    • The idea is that last you provisioned some amount for tax and paid some tax and you still have $400 left on Credit side. So you don’t really need to know exactly how much you provisioned and paid last year, most important thing is that you have $400 provision left from last year (which means last year was overprovisioned)

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