- But when faced with new economic age, traditional theory of accounting income is too old to reflect the truth quickly and correctly.
- Assessment of 10% surtax should be base on the definition of finance accounting income in place of the definition of taxable income.3.
- However if just calculates accounting income break-even point while doing break-even point analysis on project,it will show difference from the principals of project evaluation.
- And this paper researches on the resource, measurement and recognition of the comprehensive income in theory, compares with the comprehensive income, economic income, accounting income and taxation income.
- Timely loss recognition means that managers who become aware of decreases in expected future cash flows from long-term investments will incorporate that information quickly into accounting income as one-time losses.
- As a branch of financial accounting, accounting for income tax is different frow income tax accounting and it deals with the difference between accounting income and taxable income.