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Income Tax provision – what is this?

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › Income Tax provision – what is this?

  • This topic has 0 replies, 1 voice, and was last updated 15 years ago by nomad.
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  • May 17, 2010 at 1:27 pm #43939
    nomad
    Member
    • Topics: 2
    • Replies: 0
    • ☆

    Hello!
    Can some kind person explain to a stupid Nomad what the hell “Income tax provision” means?

    I’ve realised that it is not the sum of taxes accrued in IS for the current year.

    Why “over provision” is shown on Credit in a trial balance. Where does it comes from? From previous year? Where it was a year ago then? In SFP?

    What could it be…? Who knows?

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