This unit discusses the differences between GAAP (generally accepted accounting principles) and tax accounting.
Now Studying: Tax Accounting vs GAAP
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Multiple Choice Activity
Select the best match between unit terms and their definitions.
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Listening Comprehension Activity
Listen to short audio clips in English and then spell them correctly.
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Vocabulary Builder Activity
Students will learn the following key terms and phrases:
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Reading Activity: Tax Accounting vs GAAP
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In the 21st century many laws and regulations have been standardized but there are still some standards which are specific to each country.
If you work in accounting in the US you will have heard of and understand tax accounting, but your European counterpart will have no idea what it is. Unlike a lot of countries where the generally accepted accounting principles (GAAP) is the only method for…
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Reading Comprehension Quiz
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Speaking Practice Activity
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UK
Tax revenues fall when workers lose their jobs, and the taxable income that goes with them.
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Tax accounting provides a simpler method of calculating your tax liability.
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As a potential investor the most significant figures for me are the total profit and the liabilities.
... and more sentences to practice.
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Writing Practice Activity
Improve your writing skills with guided essay questions and professional correction.
- Should accounting principles be standardized across the world?
- How could GAAP be made simpler?
