Sheremeta V. Accounting of corporate income tax and disclosure to the financial statements

The dissertation is devoted to scientific substantiation of theoretical positions and improvement of organizational and methodological provision of accounting of profit tax of enterprises and its reflection in financial reporting on the example of enterprises of mechanical engineering. The dissertation defines the economic essence of the concept of "сcorporate income tax", the peculiarities of its definition in international practice, discloses the order of transformation of the reporting of domestic enterprises in the reporting according to the standards of IFRS and US GAAP. The peculiarities of the accounting of the profit tax on the enterprises of mechanical engineering with the account of the specifics of the production process and the peculiarities of the activity are revealed. The methodical approach of calculating income tax on the basis of accounting metrics through adjusting the financial result before taxation is proposed. This approach is based on the scheme of economic planning of the enterprise indicators, and therefore naturally corresponds to the theory of profit. A practical model is developed in MS Excel format, which provides a direct and inverse way of generating the income tax returns by two methods (balance and income-expense), which allows simultaneously to implement two control functions simultaneously, by testing the correctness of the tax declaration indicators for profit, and information through the automatic formation of indicators of the income tax return with the help of adjustments of financial results, determined according to accounting standards.