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ias 12

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › ias 12

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by MikeLittle.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • August 29, 2017 at 3:26 pm #404081
    adarsh1997
    Participant
    • Topics: 646
    • Replies: 282
    • ☆☆☆☆

    Hi Mike!

    1.If we have a surplus revaluation + a deferred tax liability, then the entry is
    Dr- Tax exp
    Dr- Revaluation Reserve
    Cr- Deferred tax lability

    2. However, my issue is that if we have a surplus revaluation + a deferred tax ASSET, then what will be the accounting entry?

    August 29, 2017 at 11:36 pm #404189
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23350
    • ☆☆☆☆☆

    If we have a surplus revaluation what combination of unlikely circumstances do you have in mind that could lead to a deferred tax asset?

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  • The topic ‘ias 12’ is closed to new replies.

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