The book is structured into chapters that provide practical problems based on current Philippine Financial Reporting Standards (PFRS) and International Financial Reporting Standards (IFRS). Liabilities
: Users frequently upload working editions to this repository. You can explore the Practical Financial Accounting Volume 2 2023 ED or check the structured table of contents via the older Practical Financial Accounting 2 Valix 2021 Ed. practical financial accounting 2 valix pdf work
Accounts payable, notes payable, accrued liabilities, and unearned revenue. The book is structured into chapters that provide
| Item | Carrying Amount (Book) | Tax Base (BIR) | Difference | Deferred Tax Liability (DTL) / Asset (DTA) | | :--- | :--- | :--- | :--- | :--- | | Equipment | 100,000 | 60,000 | 40,000 (Taxable temp) | DTL (40k x 30%) | | Rent Received | 50,000 | 0 | 50,000 (Deductible temp) | DTA (50k x 30%) | 000 | 60