Review of Accounting Studies, 6, 299–304, 2001 C 2001 Kluwer Academic Publishers. Manufactured in The Netherlands. Discussion of: “On the Aggregation and Valuation of Deferred Taxes” RUSSELL J. LUNDHOLM firstname.lastname@example.org University of Michigan Business School, School of Business Administration, 701 Tappan, D2260, Ann Arbor, MI 48109 Introduction The proper accounting for deferred taxes has long been a source of regulatory debate, and has produced a steady stream of accounting pronouncements. Perhaps because of the inherent difﬁculty of accounting for deferred taxes, ﬁnancial statement analysis texts frequently propose adjustments to the recorded amounts (see, for example, Bernstein and Wild 1997, p. 126). The Amir, Kirschenheiter and Willard (AKW) paper offers a welcome dose of structured thinking in this area by providing a formal evaluation of deferred tax accounting. They add deferred taxes to the Feltham-Ohlson (1996) valuation framework and examine how different ways to account for taxes give rise to different valuation expressions. In this discussion I will summarize their main results, re-writing some of them in a way that highlights the simplicity of the resulting valuation expression. I also suggest some paths for future research. The Setup I assume the reader is familiar with the notation and basic relationships
Review of Accounting Studies – Springer Journals
Published: Oct 3, 2004
It’s your single place to instantly
discover and read the research
that matters to you.
Enjoy affordable access to
over 12 million articles from more than
10,000 peer-reviewed journals.
All for just $49/month
Read as many articles as you need. Full articles with original layout, charts and figures. Read online, from anywhere.
Keep up with your field with Personalized Recommendations and Follow Journals to get automatic updates.
It’s easy to organize your research with our built-in tools.
Read from thousands of the leading scholarly journals from SpringerNature, Elsevier, Wiley-Blackwell, Oxford University Press and more.
All the latest content is available, no embargo periods.
“Hi guys, I cannot tell you how much I love this resource. Incredible. I really believe you've hit the nail on the head with this site in regards to solving the research-purchase issue.”Daniel C.
“Whoa! It’s like Spotify but for academic articles.”@Phil_Robichaud
“I must say, @deepdyve is a fabulous solution to the independent researcher's problem of #access to #information.”@deepthiw
“My last article couldn't be possible without the platform @deepdyve that makes journal papers cheaper.”@JoseServera