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38494594
Chapter 16: Corporate Operations
Description
This is my mind map for BUS 420 Chapter 16.
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chapter 16
bus 420
federal income tax
Mind Map by
Lucille Lamberson
, updated more than 1 year ago
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Created by
Lucille Lamberson
almost 2 years ago
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Resource summary
Chapter 16: Corporate Operations
Unfavorable book-tax difference
Requires an add-back to book income to compute taxable income
Favorable book-tax difference
Requires corporations to subtract the difference from book income in computing taxable income
Net operating loss (NOL) carryover
Occurs when a NOL is carried forward to a future year
Net operating loss (NOL)
The excess of deductions over gross income
Net operating loss (NOL) carryback
Occurs when a NOL is carried back to a prior year
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