Changing Values
About This Chapter
There are some standards that are important for certain circumstances, and we discuss four of these in this chapter. Companies pay tax, and we need to know how they account for it. They also deal in foreign currencies and make payments with their own shares. These are both activities that are addressed by accounting standards. Finally, the concept of “fair value” was raised in earlier chapters, and we discuss it in this chapter.
For some, taxation is not the most exciting of topics, but it is important to understand because companies sometimes have to pay significant amounts. The standard that applies to all entities is IAS 12 Income taxes. First issued in 1979, there have been numerous amendments, ...
Get A Non-Technical Guide to International Accounting now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
