Accounting for Deferred Tax


FRS 102.29 permits entities to discount the cash flow impact of deferred taxation as the liability to pay may not arise for many years into the future. True or False?

Well the answer is ‘False’. The amortisation of deferred tax is not permitted under FRS 102 (‘an entity shall not discount current or deferred tax assets and liabilities’ FRS 102.29.17).

For other challenging quiz questions, go see our online webinar on Accounting for Deferred Tax, and download the slides and support materials, all for just €45. On successful completion, receive a CPD certificate for your newly acquired knowledge. Well done!

The online webinar deals with the following areas of deferred tax (DT) accounting:

  • The basic requirements of FRS 102.19 – the five main areas where DT provisions arise;
  • Revaluations and how they trigger DT provisions;
  • Share-based payments that cause DT provisions;
  • Groups;
  • Undistributed profits;
  • Defined benefit schemes;
  • Deferred Tax Assets;
  • Disclosures;

There are 18 other webinars on various topics – also for €45 each, or you may purchase two at the same time for €80 or 5 for €190.

All our webinars are accessible at any time (for 12 months from date of purchase) here.

Last week’s blog on Audit Exemption proved very popular and in case you missed it, here is the link to the relevant webinar again. Corresponding with the Audit Exemption webinar, we have prepared, ready to use, audit exemption engagement and representation letters (in Word format) available to purchase online (bulk purchases of 5 or more templates attract a 20% discount), please click on the relevant links: