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Accounting for Income Taxes: Primer, Extant Research, and Future Directions

Author

Listed:
  • Graham, John R.
  • Raedy, Jana S.
  • Shackelford, Douglas A.

Abstract

This monograph comprehensively reviews the Accounting for Income Taxes (AFIT) literature. We begin by identifying four distinctive aspects of AFIT. We cover the rules surrounding AFIT and provide a discussion of the descriptive studies related to AFIT. We then review the existing research studies in detail and offer suggestions for future research. We focus on the two research questions that have been most widely studied (the extent to which managers use the tax accounts to manipulate earnings and whether equity market participants price the tax accounts). We discuss econometric issues that apply to AFIT and more broadly apply to much accounting and economics research. We also highlight areas that have not received much research attention and that warrant future analysis.

Suggested Citation

  • Graham, John R. & Raedy, Jana S. & Shackelford, Douglas A., 2012. "Accounting for Income Taxes: Primer, Extant Research, and Future Directions," Foundations and Trends(R) in Finance, now publishers, vol. 7(1–2), pages 1-157, December.
    • Handle: RePEc:now:fntfin:0500000042
    DOI: 10.1561/0500000042
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    Citations

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    Cited by:

    1. Luca Menicacci, 2022. "Financial reporting and book-tax conformity: A review of the issues," FINANCIAL REPORTING, FrancoAngeli Editore, vol. 2022(1), pages 41-77.
    2. Lampenius, Niklas & Shevlin, Terry & Stenzel, Arthur, 2021. "Measuring corporate tax rate and tax base avoidance of U.S. Domestic and U.S. multinational firms," Journal of Accounting and Economics, Elsevier, vol. 72(1).

    More about this item

    Keywords

    Financial reporting; Tax accounts; Book-tax differences; Earnings management;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General

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