rohith
asked over 2 years ago
Hi, Where can I find the amount of income taxes paid by a corporation?
narahari
answered about 2 years ago
US GAAP requires corporations to report the amount of income taxes paid. The AICPA's Accounting Trend and Techniques indicates that approximately half of the 500 large corporations that it surveyed had reported the amount of income taxes paid at the bottom of the statement of cash flows.
ARJUN PRATAP SINGH
answered over 2 years ago
Dear Friend, as far as your query is concerned that Where can I find the amount of income taxes paid by a corporation? Let me informed that You can find the amount of income taxes paid by a corporation by reading its statement of cash flows and its notes to the financial statements. US GAAP requires corporations to report the amount of income taxes paid. The AICPA's Accounting Trend and Techniques indicates that approximately half of the 500 large corporations that it surveyed had reported the amount of income taxes paid at the bottom of the statement of cash flows. Almost the same number had reported the amount of income taxes paid in its notes to the financial statements. Only 5 or 6 corporations had reported the amount within its statement of cash flows. For U.S. corporations whose stock is publicly-traded, you will find the statement of cash flows included in its Form 10-K, which is the annual report to the Securities and Exchange Commission (SEC). It is important to understand that the income tax provision reported on the income statement is not the amount of income taxes paid in that period. Hope answer was helpful to you Regards, Arjun Pratap Singh
