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EXCEL - IDEA: XBRL DOCUMENT - CHINA MEDIA INC.Financial_Report.xls
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10-K - FORM 10-K - CHINA MEDIA INC.chndform10kjune302012v8.htm
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v2.4.0.6
Note 2. Summary of Significant Accounting Policies: Income Taxes (Policies)
12 Months Ended
Jun. 30, 2012
Income Taxes:  
Income Taxes

Income Taxes

 

The Company accounts for income tax under the provisions of ASC 740, Income Taxes, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of the events that have been included in the financial statements or tax returns. Deferred income taxes are recognized for all significant temporary differences between tax and financial statements bases of assets and liabilities. Valuation allowances are established against net deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized. There were no deferred tax assets or liabilities at June 30, 2012 and 2011.