Intraperiod Tax Allocation (Financial Accounting)

UPDATE: Extraordinary Items are no longer reported for U.S. GAAP. Also, they are not reported for IFRS. You may see Extraordinary Items in older financial statements.
This video explains the concept of Intraperiod Tax Allocation in Financial Accounting. Intraperiod Tax Allocation refers to the process of presenting certain Income Statement items net of tax. An example is provided to illustrate how Discontinued Operations would be presented net of tax.
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[@IbraheemSaleh-i6o]

Since college whenever I have a problem in audit or accounting you always deliver, wish you the best and thanks for the great content

[@Edspira]

Thank you for such a kind comment!

[@raouffrht4892]

honestly this is one of the best channel for financial accounting!!!!

[@cheriescorner5482]

Thank you for mentioning the GAAP update in side bar. Made this video even more valuable.

[@LucasYounts]

Thanks! In intermediate accounting and I found this much more straightforward than the books explanation.

[@rockendesmadre]

Thank you very much for this great explanation. I'm currently taking Intermediate accounting online and I can't tell you how hard it is without someone explain it to me. The textbook has good source of information but you do a better job at explaining the concepts. I've been watching your other accounting tutorial videos as well... Please keep posting more great videos like this.
Thank you again!

[@Edspira]

Thank you for the kind words... if you ever need help with a specific topic, feel free to send an email request to [e-mail] and I'll try to make a video for that topic. Good luck in your courses, and thanks again!

[@bhagatsingh5019]

Thank you for your all beautifully explained videos.

[@christinabriceno1357]

this helped so much!!! THANK U!

[@Edspira]

No problem. Thanks for watching!

[@이찬희-u4s]

I just hope my professor plays this during class

[@jonathanshim282]

thank your for these extremely helpful videos; could you please do a bit on Deferred Taxes?

[@Edspira]

Coming right up! I am working on them as we speak and will hopefully have them ready by this Sunday night!

[@singlemaltbarrel]

Hey can u explain the loss on discontinued ops?

[@samh1403]

You are awesome!

[@dancinginthebasement]

Why did you subtract the tax on disc. ops?

[@shankare2286]

That deduction is necessary to arrive at Net Income.

[@muhammedmusheer]

So intra-period tax allocation is based on the going concern principle???