negative evidence

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Examples of positive evidence that might be necessary to support a conclusion that a valuation allowance is not needed when there is negative evidence include: * An excess of appreciated asset value over the tax basis of the entity's net assets in amount sufficient to realize the deferred tax asset; and * A strong earnings history exlusive of the loss that created the future deductible amount.
Virtually all major CPA firms have publicly expressed the view that forecasted future profits, by themselves, may not be enough to offset existing negative evidence.
If the attorney told the accountant any negative evidence on his own, he'll have to reveal it.
When negative evidence is outweighed by positive evidence, an enterprise might conclude the provisions of the new tax standard can be implemented without making detailed computations, forecasts and scheduling.