The Adjustment Sheet: From Accounting Profit to Adjusted Profit
This lesson is part of the course
In this lesson
You compute Kestrel Joinery's accounting profit from its income statement, total the add-backs and deductions with SUMIFS and reach the adjusted profit that the rest of the tax computation builds on.
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Lessons in this course
- The Adjustment Sheet: From Accounting Profit to Adjusted Profit Locked
- Non-Deductible Items: A Category Table, Deductible Shares & Total Add-Backs Locked
- Capital Allowances: Pools, Declining-Balance Rates, Additions & Disposals Locked
- Loss Carry-Forward: A Fictional Cap and the Five-Year Loss Memo Locked
- Rates: A Two-Band Company Rate, Incremental Bands & the Effective Rate Locked
- Instalments: Due Dates with EDATE & WORKDAY, Last Year vs This Year's Estimate Locked
- Late & Early Payments: Interest on Shortfalls and Refunds with Credit Interest Locked
- Provision vs Payment: Tax Expense, Year-End Payable & a Three-Year Comparison Locked