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BIR Forms, Unfriendly, Anti-business, Taxpayer University teaches

0 Views 11/26/23
Aryel Narvasa
Aryel Narvasa

Are you zombie-Filipino? This video is not for those who considered themselves as zombie-movers or -thinkers. Please do not watch this video because of its insignificance and nonsense topics. However, if you belong to a change-thirsty Filipinos who want positive changes, not for yourselves, for the betterment of the next generations of Filipinos. Please let us unite and claim back what were ours in the very beginning. We might not benefit from the changes that we are dreaming for so long. It is enough for the dreamers, just like me, to know and understand that the beneficiaries of our tears, time and treasures are OUR CHILDREN AND THE INHABITANTS OF OUR BELOVED PHILIPPINES. Our dream. Our goal. Our future. Thanks for watching and sharing.
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To help you respond to these demands, we provide assistance in three key areas:

Tax accounting: supporting quarterly and annual tax provision calculations, validating tax balance sheet accounts and implementing new accounting standards under IFRS and/or local GAAP
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What is Tax Accounting?
Tax accounting focuses on the preparation, analysis and presentation of tax returns and tax payments.

How Does Tax Accounting Work?
For example, Company XYZ might use one accounting method for calculating depreciation when it reports financial results to investors, but tax laws may require it to use a different method for tax accounting purposes. As a result, Company XYZ might have one net income number on the financial statements filed with the SEC and a different net income number filed with the IRS.

Why Does Tax Accounting Matter?
Although tax accounting largely follows generally accepted accounting principles (GAAP), in a few ways it is quite different. This is why you might hear analysts discussing the difference between "book and tax," meaning the differences between GAAP accounting and tax accounting. Tax accounting takes special training and education, which is why some accountants specialize only in taxes.

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