Intraperiod tax allocation is the process of associating income tax effects with the income statement components that create those effects.

Question

Quizplus · Accepted Answer

Intraperiod tax allocation is the process of allocating income tax effects to the income statement components that create them, in order to provide users with more meaningful information about a company's financial performance. This is typically done within a single accounting period, as opposed to interperiod tax allocation which involves allocating taxes across multiple periods.

Intraperiod Tax Allocation Is the Process of Associating Income Tax