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Hello Sir!
Hope you are doing well.
I don’t have the latest SBR book so I don’t have the information on the ED proposal related to the deferred tax.
I would be grateful if you could give a summary of it.
Yes Professor, this area of current issue is also very very confusing!! can you pls brief us?
Lessee accounting;
On date lease starts, let us say that:
Lease asset = 100
Lease liability = 80Do we recognise DT?
Some companies have nor been doing so. This is because IAS 12 has a strange exemption for ‘initial recognition of transactions which on that date do not affect profit and loss’The ED says you must reflect DT.
Be calm. (The reference above is a New Zealand document) but it summarises the rule.
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