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adjusting accounting profit to arrive at tax profit

This topic has 2 replies, 2 voices, and was last updated 1 year ago by rafapak.

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May 20, 2021 at 11:44 am #621193
rafapak
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Dear Chris

I would like to learn how to adjust accounting profit to arrive at tax profit. Do you remember in which section of ACCA course on opentuition this can be found ? Is it in financial reporting section ? Is it in taxation section ? Please, let me know
May 22, 2021 at 9:27 am #621409
P2-D2
Keymaster
- Topics: 4
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Hi,

There is no particular section of any material that is dedicated to this. Essentially you are just rearranging the figures from the statement of profit and loss and working backwards from the profit for the year figure to the profit before tax figure.

PBT less Income tax expense = PFY

You can then rearrange this so that,

PBT = PFY plus Income tax expense

Thanks
May 23, 2021 at 12:51 pm #621532
rafapak
- Topics: 24
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thanks
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