Reconciling corporation book and tax net income, tax years 1996-1998.(Statistical Data Included)

From: Statistics of Income. SOI Bulletin | Date: March 22, 2002| Author: Plesko, George A. | Copyright information

Income measurement for tax reporting follows a separate set of rules than that used for financial reporting. The goal of financial reporting, as outlined by the Financial Accounting Standards Board (FASB) in its 1978 Statement of Financial Accounting Concepts No. 1, is to provide external users with "information that is useful in investment and credit decisions [1]." In contrast, tax reporting is intended to facilitate the collection of revenues in an equitable and efficient manner...

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