Tax

A Field Auditor: Responsibilities, Qualification and More

An audit is a process in which an auditor examines a subject matter against specified criteria. During this process, the auditors use various audit procedures to obtain assurance regarding the subject matter. There are several types of audits that may exist. Usually, audits refer to external or internal audits conducted by independent auditors. These processes …

A Field Auditor: Responsibilities, Qualification and More Read More »

Deferred Tax Assets – Definition, Example, and Why the Deferred Tax Asset Arises

Definition: Deferred tax asset arises when differences exist between the taxable income and actual income of a company. In other words, it is the amount of money the IRS owes to you because your taxable income was higher than your actual income for a particular accounting period. Hence, you paid higher taxes than you reported …

Deferred Tax Assets – Definition, Example, and Why the Deferred Tax Asset Arises Read More »