In the notes before preparing SOFP, SOPL....
If the say us income tax calculation for the yr ended 31 march 2012 shows a tax refund, then we have to do the opposite of wat we do normally right?
example deffered tax reduction we add to the income tax in the PL plus even a current tax paid in the trial balance debit side assuming then we minus in the taxation.
Question is FRESCO
Ask the Tutor ACCA FR
Tax
Yes, do the opposite. So Credit the Current Tax Acount above the line and Debit the same account below the line
I can't follow your second paragraph!
Practice the taxation mini-exercises at the back end of the course notes
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