Deferred Tax Assets in Financial Accounting
This video shows what a deferred tax asset is in Financial Accounting. Deferred tax assets reduce taxes paid in future periods (they represent future tax savings). Deferred tax assets result from temporary differences between book and tax income. This video provides an example to illustrate how a deferred tax asset could arise and the journal entries that would be necessary to record the deferred tax asset.
This video was funded by a Civic Engagement Fund grant from the Gephardt Institute for Civic and Community Engagement at Washington University in St. Louis.
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