Deferred tax asset

Movement on the deferred tax account will be calculated and treated in "the normal way" - by double entry with the current tax account The current tax charge to the statement of profit or loss and the current tax liability for the statement of financial position will be dealt with in "the normal way" And the deferred tax balance - "Deferred tax" asset will appear as a current asset But it is HIGHLY IMPROBABLE that you will be faced with this, either in the exam or in real life!