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Hi, Sir from Mar/Jun 2019 Q2 c)
Answer from second paragraph: The directors are wishing to recognise this within other comprehensive income rather than profit or loss despite knowing that it is contrary to international accounting standards. This would improve profitability although it would not impact upon net assets due to a corresponding decrease in equity.
Why is the equity decreasing?
Answer from third paragraph: The deferred tax asset is based upon forecasts for too long a period.
Which year have they been using?
Please watch my debrief of this exam where I show you what to write.
Then, if you need to please resubmit as two separate questions with headings reflecting the topic (not the question name). You need to give enough detail so that other students (and me!) do not need to search out the question. Try not to cut and paste from the question.
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