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Accounting & Bookkeeping & Small Business Forum
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Pearl
Joined: 18 Sep 2008
Posts: 5
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| Posted: Sun Sep 21, 2008 6:04 am Post subject: Deferred tax asset and liability |
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Hi,
Could anyone maybe try and post an explanation of how to work out the deferred tax asset and liability ?
Thank you. |
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Ken
Joined: 17 Aug 2005
Posts: 148
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| Posted: Tue Nov 11, 2008 4:46 pm Post subject: |
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Deferred tax is an accounting concept, meaning a future tax liability or asset, resulting from temporary differences between book (accounting) value of assets and liabilities and their tax value, or timing differences between the recognition of gains and losses in financial statements and their recognition in a tax computation.
http://en.wikipedia.org/wiki/Deferred_tax |
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