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accounting tax charge and balance sheet provision memorandum

German translation: Bilanzanmerkung zu latenten Steuern in der Steuerbuchhaltung und deren entsprechende Bilanzrückstell

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:accounting tax charge and balance sheet provision memorandum
German translation:Bilanzanmerkung zu latenten Steuern in der Steuerbuchhaltung und deren entsprechende Bilanzrückstell
Entered by: Renata von Koerber

17:25 Feb 10, 2015
English to German translations [PRO]
Bus/Financial - Accounting / Responsibilities in Group Finance/ Year end accounting
English term or phrase: accounting tax charge and balance sheet provision memorandum
Es geht hier um die Tax Policy eines internationalen Unternehmens mit Konzernzentrale im UK.
Im Anhang werden die Verantwortungsbereiche im Konzern definiert und abgegrenzt.
Das "Audit Committee" ha dabei nur die folgende Funktion:

Review of the update on the *** accounting tax charge and balance sheet provision memorandum *** produced by the Group Finance Director and Group Finance on a bi-annual basis.
Nun weiß ich, dass in jedem Halbjahr Projektionen zur Steuersituation und ihrer Implikationen für die gesamte Liquidität und Planung des Unternehmens vorgestellt werden- s.o.
Dass dabei ein Memorandum verfasst wird, stand bei der Beschreibung dieser Aktivität nicht.
Wer weiß, was genau dieses Memorandum ist?
Renata von Koerber
Germany
Local time: 16:31
Bilanzanmerkung zu latenten Steuern in der Steuerbuchhaltung und deren entsprechende Bilanzrückstell
Explanation:

Based on your highly appreciated note to my reference comments:

Bilanzanmerkung zu latenten Steuern in der Steuerbuchhaltung und deren entsprechende Bilanzrückstellungen
Selected response from:

andres-larsen
Venezuela
Local time: 10:31
Grading comment
Vielen Dank!
4 KudoZ points were awarded for this answer



Summary of answers provided
4 -2Buchrevisor Chaussée Begeisterung und Saldo Blatt Beschaffung Notizffung
ROLANDO SALAZAR
1Bilanzanmerkung zu latenten Steuern in der Steuerbuchhaltung und deren entsprechende Bilanzrückstell
andres-larsen
Summary of reference entries provided
Financial accounting and tax principles
andres-larsen

Discussion entries: 6





  

Answers


7 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -2
Buchrevisor Chaussée Begeisterung und Saldo Blatt Beschaffung Notizffung


Explanation:
Ich kammen ausich Bestimmung

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Note added at 7 hrs (2015-02-11 01:06:38 GMT)
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It is just Notiz at the end

ROLANDO SALAZAR
Local time: 10:31
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish

Peer comments on this answer (and responses from the answerer)
disagree  Steffen Walter: ??? Does not make any sense at all. (KudoZ answers that rely on nonsensical machine translation are strongly discouraged.)
10 hrs
disagree  Expertlang: how horrible
17 hrs
neutral  Dipl.-Kfm. Bernhard Aicher MBA: sehr witzig
623 days
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1 day 39 mins   confidence: Answerer confidence 1/5Answerer confidence 1/5
Bilanzanmerkung zu latenten Steuern in der Steuerbuchhaltung und deren entsprechende Bilanzrückstell


Explanation:

Based on your highly appreciated note to my reference comments:

Bilanzanmerkung zu latenten Steuern in der Steuerbuchhaltung und deren entsprechende Bilanzrückstellungen


andres-larsen
Venezuela
Local time: 10:31
Native speaker of: Native in EnglishEnglish
PRO pts in category: 34
Grading comment
Vielen Dank!
Notes to answerer
Asker: This wasn't only helpful, but extremely educational.

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Reference comments


7 hrs
Reference: Financial accounting and tax principles

Reference information:
Financial accounting and tax principles - CIMA
www.cimaglobal.com/Documents/.../F1julyaugust2009fmarticle....

It is important to understand how to account for taxation, because it has an impact on the income statement (in the tax expense account) and the balance sheet (in the income tax and deferred tax accounts). The tax expense on the income statement has three components: the tax charge for the period; any under- or over-provision of tax for the previous period; and the increase or decrease in the deferred tax provision. Let’s focus here
on the third component.
Before addressing how to account for deferred tax, you should know what it is and how it arises. The tax charge is calculated on
a company’s taxable profit, not its accounting profit. These two figures are rarely the same, as there will be some expenses included in arriving at the accounting profit that are not
allowed as a deduction from taxable profit. In the UK, for example, entertaining customers is not an allowable tax deduction against
profit, so that amount is added back to the accounting profit to arrive at the taxable profit. Differences that are never allowable are known as permanent differences. But some aren’t permanent, because they are allowed as a deduction against taxable profit in a different period from which they are deducted from the accounting profit. These are called temporary differences, as they will reverse in future and give rise to deferred tax.
The most common example is depreciation: a temporary difference arises because the rate of depreciation given for accounting
purposes is usually slower than the rate of depreciation given for tax purposes.

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Note added at 1 day43 mins (2015-02-11 18:09:18 GMT)
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just posted my first discussion entry as an answer, based on your much appreciated note to my reference comments

andres-larsen
Venezuela
Native speaker of: Native in EnglishEnglish
PRO pts in category: 34
Note to reference poster
Asker: many thanks for the super effort! I studied accounting in my business studies, but for this aspect, you either know, or you don't. I could not have cracked this without your help.

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