timing difference

Timing Difference

In accounting, the amount of time between the point at which an asset or transaction affects a company's finances for reporting purposes and the point at which it affects it for tax purposes. This is especially important in depreciation: tax depreciation and reporting depreciation are sometimes calculated differently.

timing difference

The time difference between the point at which a transaction affects items for financial reporting purposes and the point at which it affects the same items for tax purposes. For example, purchase of a fixed asset depreciated by an accelerated method for tax purposes, but by straight-line for reporting purposes, creates a timing difference for depreciation expense.

Mentioned in ?

References in periodicals archive ?

1998 adjustment reversing in 1999), we agreed on a number below which timing difference would not be pursued.

Streamlining the audit process TEI member follow-up responses: August 7, 2002

Phase is the timing difference between the output and input sinusoids, expressed in degrees.

The sinusoidal vertical-axis rotation test

This difference is what is known as a timing difference.

Accounting for income taxes

Arguably, a change to the language of the regulations needs to be made to have the timing difference apply in the example.

Sec. 904 - base difference vs. timing difference for foreign taxes

Although technically a timing difference, many leases have such long terms that they create what amounts to a "permanent" difference between U.

Use of U.S. GAAP to calculate the earnings and profits of foreign corporations

Because the allowance of PALs is a timing difference between regular tax and AMT, the application of Sec.

Sec. 58(c)(1) creates potential future AMT from PAL carryforwards

The fall is attributed to timing differences in orders and invoicing, with the company bullish that sales will pick up in the last quarter.

Hologram Industries on track to achieve 2013 forecast

These timing differences, if related to a specific asset, will cause the asset to have a basis for AMT purposes that differs from that for regular tax purposes.