General Purpose Financial Statements - JB

Question 1

Interperiod

Answer 1

a tax allocation is the temporary difference between the effects of tax policy on the financial reporting of a business and its normal financial reporting as mandated by an accounting framework, such as GAAP or IFRS.

Question 2

Intraperiod

Answer 2

Pertains to the tax effects for only one year. It is the allocation of the total tax consequence for that year among income from continuing operations, and the following four items:
Discontinued operations
Other comprehensive income items
Adjustment for retroactive accounting principle changes
Prior-period adjustments