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Deferred tax basics

This topic has 1 reply, 2 voices, and was last updated 3 years ago by Stephen Widberg.

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July 14, 2021 at 2:35 pm #627714
Noah098
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sir can we say that DT liability reverses when asset is realised and DT asset reverses when liability is settled?
July 15, 2021 at 7:54 am #627813
Stephen Widberg
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Probably true in most cases (except losses). But for DT, simply say ‘there is a TD because…………… ‘ and then calculate the asset or liability. I wouldn’t go on about ‘reversing’ in the answer.
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