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YES
IT is an asset on a company's balance sheet that may be used to reduce any subsequent period's income tax expense.
Deferred tax assets can arise due to net loss carryovers, which are only recorded as assets if it is deemed more likely than not that the asset will be used in future fiscal periods
It must be determined that there is more than a50% probability that the company will have positive accounting income in the next fiscal period before the deferred tax asset can be applied
For examlple
if company have12000$ deferred tax on its blanace
and then the company earn30000$ net profit
accounting tax expense will be applied to $18,000 ($30,000 - $12,000), instead of $30,000.
Are the obligations of the institution is considered a religion it is recorded in the side of Liability
