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Full-Text Articles in Law
Double Benefits And Transactional Consistency Under The Tax Benefit Rule, Kenneth F. Joyce, Louis A. Del Cotto
Double Benefits And Transactional Consistency Under The Tax Benefit Rule, Kenneth F. Joyce, Louis A. Del Cotto
Journal Articles
No abstract provided.
Matching Of Costs And Revenues As A Goal Of Tax Accounting, Alan Gunn
Matching Of Costs And Revenues As A Goal Of Tax Accounting, Alan Gunn
Journal Articles
A central principle in accounting is that accounting methods must “clearly reflect income”. They must match a taxpayer’s revenues with the expenses of producing these revenues to determine their income. The article argues against this principle with an examination of accrual accounting methods. It looks at the role of matching in connection with two fundamental concerns of accrual accounting, the “all events” test and the principle of “clear reflection” of income. Through this examination the article notes that matching is generally irrelevant in principle, since the goal of tax accounting is to produce administratively feasible and economically sensible rules for …