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Homework answers / question archive / What are some of the reasons that the components of income tax expense should be disclosed and a reconciliation between the effective tax rate and the statutory tax rate be provided?

What are some of the reasons that the components of income tax expense should be disclosed and a reconciliation between the effective tax rate and the statutory tax rate be provided?

Accounting

What are some of the reasons that the components of income tax expense should be disclosed and a reconciliation between the effective tax rate and the statutory tax rate be provided?

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The reasons are as follows:

  1. Assessment of the quality of earnings: Many investors seeking to assess the quality of a company's earnings are interested in the reconciliation of pretax financial income to taxable income.
  2. Better prediction of future cashflows.

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