Deferred tax

Topics related to local GAAP, audit, laws and regulations affecting financial reporting, non-GAAP measures, investor relations, internal control over financial reporting, XBRL, pro-forma information and other similar topics.
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Yasaswi Gomes
Posts: 17
Joined: 18 Apr 2020, 15:44

Deferred tax

Post by Yasaswi Gomes » 17 May 2020, 05:36

Hi,

This is the only area where I lack lots of expertise. Can someone please explain me, if there are any chances of a current tax to become deferred tax asset or a liability?


Txs.
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Marek Muc
Site Admin
Posts: 451
Joined: 15 Oct 2018, 17:21

Re: Deferred tax

Post by Marek Muc » 17 May 2020, 09:21

wow, so you must be a hell of an expert if deferred tax is the only area where you lack lots of expertise :lol:

have a read:
https://ifrscommunity.com/knowledge-base/deferred-tax/
https://ifrscommunity.com/knowledge-bas ... ncome-tax/

Yasaswi Gomes
Posts: 17
Joined: 18 Apr 2020, 15:44

Re: Deferred tax

Post by Yasaswi Gomes » 17 May 2020, 11:16

@ Marek Muk

Thank you for your answer. I tried to join Ernst and Young into audit process with my MSc. in International Accounting and Finance. The HR promised to call me back and it is 2 years since I’m waiting for my job. Otherwise, I would have picked up all of these long time ago. Meantime, I joined as a Financial administrator in an Indian MNC group companies. It’s ERP and far away from home, so I quit it. I’m currently planning to join another firm when ever I get a chance, and during this period I am answering International Financial Reporting Standards and B.Com accounts online. It took me few months to understand how to write accounts and I’m just a part accountant. I can even deal with advance taxation- but not with complete Deferred Taxes analysis. Similarly, I know payroll process, but not employee benefits computations completely. Apart from this, I know treatments for Biological assets as well and intend to finish off IAS 12 and 19 soon. This community is offering proficient IFRS solutions and answering more complexities is what I have noticed.
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