NEW YORK, Nov. 13, 2020 (GLOBE NEWSWIRE) -- Fiduciary/Claymore Energy Infrastructure Fund (“FMO” or the “Fund”) today announced a change in the estimate of the accrual of federal and state income tax ...

Companies record both income tax expense and income tax payable in journal entries. For companies that use the cash basis for both financial and tax reporting, income tax expense equals income tax ...

Taxes become deferred when a company's financial accounting methods are different than the acceptable tax accounting methods. This creates a discrepancy between the general ledger and the amounts ...

The handling of prepaid expense deferrals and expense accruals will be consistent with the last nine fiscal years. General Accounting processes all prepaid expense deferrals and accruals for all of ...

An accrual has occurred but has not yet been paid for. This can include work or services that have been completed and ...

Most businesses handle their accounting on an accrual basis. What is accrual basis accounting? It’s the practice of recording transactions at the point of origination, even if no money changes hands ...