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    rowe's Avatar
    rowe Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Aug 5, 2007, 05:44 AM
    GAAP vs income tax accounting
    Hello All,

    I would like to ask about the similarities and differences between GAAP accounting and income tax accounting. I hope that someone can help me. Thanks:)
    CliffARobinson's Avatar
    CliffARobinson Posts: 1,416, Reputation: 101
    Ultra Member
    		  
    #2

    Mar 8, 2012, 04:51 PM
    When using the tax basis of accounting, as an example, depreciation will follow tax rules instead of GAAP. Same with inventory.
    Reference & more information
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