The problem is that GAAP and the income tax basis of accounting have a lot of differences.

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The New Jersey Income Tax Act requires taxpayers to claim losses in accordance with their Federal method of accounting, including federal basis rules.

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Careful carbon accounting has been the presumed basis of cap-and-trade programs as envisioned by the Kyoto Protocol and advocated as the best approach for national climate policy.

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Small businesses benefit from confirmation that they can use the "cash basis" for their tax returns, instead of the more complicated accounting rules which they have had to use previously.

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Over the past 10 years, ARBA appears as quite a success story and one of the few Internet bubble companies to survive and reach profitability, on a GAAP accounting basis at least.

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