A Major Conceptual Issue Associated with Interperiod Tax Allocation Is

question 23

Essay

A major conceptual issue associated with interperiod tax allocation is the issue of discounting the deferred tax amount on the balance sheet to reflect its present value.Current generally accepted accounting principles do not allow the discounting of deferred taxes.Some in the profession have suggested,however,that the FASB should reconsider its position on discounting in light of the Board's current project on present value-based measurements in accounting.
Provide arguments for and against the discounting of deferred income taxes.

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Definitions:

Product Quality

The measure of a product's ability to meet or exceed customer expectations.

Customer Service

It is the support and assistance provided by a company to the people who use or buy its products or services.

Dominant Values

Refer to the prevailing or most important values that are shared among a group, culture, or individual, influencing behavior and decision-making.

Organizational Culture

encompasses the values, beliefs, and behaviors that contribute to the unique social and psychological environment of an organization.