Deferred Tax Asset & Deferred Tax Liability | Intermediate Accounting CPA Exam FAR

In this session, I explain deferred tax asset and liability. A deferred tax asset is an item on the balance sheet that results from overpayment or advance payment of taxes. Deferred tax asset is the opposite of a deferred tax liability, which represents income taxes owed. Deferred tax asset and liability is covered on the CPA exam. Farhat Lectures can teach you deferred tax asset and liability.

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This is an introduction to deferred tax assets and deferred tax liabilities.