A Brief Analysis of The Differences Between Accounting Standards and Tax Laws

Abstract

In the process of management and operation, the tax laws and accounting standards have unique regulations of the same economic activities in different areas. However, there are certain differences between accounting standards and tax laws, which constantly increases the compliance costs. Due to the differences in accounting standards and tax laws, distinctions and contradictions also exists in activities of enterprises. How to view these differences and accomplish the coordination between them has caused heated debate.