2007-12-08 03:01:29 · 5 answers · asked by little 1 in Business & Finance ➔ Taxes ➔ United States
If either set is inaccurate, that is definitely unethical and perhaps illegal.
If both sets are accurate, and you keep two only because GAAP and the Internal Revenue Code differ as to when to account for certain expenses (for example, depreciation schedules), that is ethical and legal.
2007-12-08 05:16:17 · answer #1 · answered by StephenWeinstein 7 · 0⤊ 0⤋
There isn't an ethical problem her as long as both are accurate. I assume by "int" you mean IRS.
There are many cases in which depreciation, for example, is handled differently for corporate financials reporting than it is for tax purposes. This is perfectly legal and ethical.
2007-12-08 03:19:09 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
You may need to rewrite the question because it is not clear if you are trying to ask if there is an ethical way to do something dishonest (there isn't) or legally treat an asset differently for different reporting purposes such as having different depreciated values of assets for tax or regular accounting purposes.
2007-12-08 03:53:56 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Do you mean one for the IRS and one for something else?
Ethically or legally, there is only one set of books
2007-12-08 03:07:40 · answer #4 · answered by curious george 5 · 1⤊ 0⤋
What is "int"?
timing differences, in some circumstances, are okay.
2007-12-08 03:04:18 · answer #5 · answered by Yeahhoo P 5 · 0⤊ 0⤋