Accounting for Deferred Taxes (Professional Course Level)

Learn basics of Deferred Taxes to understand its real effect in Financial Statements
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  • Lectures 11
  • Length 1.5 hours
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 1/2015 English

Course Description

Welcome to this course on Accounting for Deferred Taxes Are you an Accounting / Finance / Auditing Student? Are you a Banker / Financial or Project Consultant? Are you coming across Deferred Taxes often in Financial Statements as well as in your discussions but couldnt get a grip on the basics of it? Then, this course is for you! This course teaches you the basics and rationale behind the concept of Deferred Tax. Yes! Deferred Tax concept has sound rationale and its accounting is very important for getting clear picture of financial performance and position of any business entity. But many of us doesnot appreciate the intent of that tax accounting and tend to ignore it in view of the complexity in the computation as well as in the interpretation part. Generally, business entities will be arriving at their profits by following generally accepted accounting practices. But tax authorities will have their own rules and regulations and they will arrive at profits of business entities in a different way. Hence, Tax liability for a business entity is a result of various adjustments based on the tax law. This may result in postponing tax liabilities some times which will result in sizeable profits in that year but in the later years when this postponed liability is caught, it would affect the liquidity of the business. Hence, to avoid all these mishaps, deferred tax accounting is practised. This course tries to clear the above by providing lectures on each and every concept like a) What is Tax b) Why Deferred Tax should be accounted c) What is the Generally Accepted Accounting Procedures for Deferred Tax d) What are the basic terms associated with Deferred Tax e) What is the difference between Accounting Income and Taxable Income f) What is the impact of Timing Differences g) What are Deferred Tax Asset and Liability h) What are Reasonable Certainty and Virtual Certainty I) How to recognise Deferred Tax in Financial Statements. This course uses terms and terminologies related with Accounts and Tax. Hence, it is important that you should have basic knowledge on Accounts and Financial Statements. This course has 10 Video lectures explaining the concepts and ends with example lecture. This course is structured in self paced learning style. If you want to know the basics of deferred tax accounting, then you are in right place.

What are the requirements?

  • Students should know basics of accounting
  • Students should have fair idea taxes and Financial Statements

What am I going to get from this course?

  • Understand Accounting Treatment for Deferred Tax
  • Understand Deferred Tax Liability and Deferred Tax Asset
  • Understand Timing Difference and Permanent Difference
  • Understand Recognition criteria for Deferred Taxes

Who is the target audience?

  • Accounting Students
  • Finance Students
  • Bankers
  • Audit Students
  • Financial Consultants
  • Banking and Project Consultants
  • This course is not for you if you dont have basic knowledge in accounting.

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.


Section 1: Introduction
Matching Concept and Deferred Tax
Generally Accepted Accounting Practices for Tax Accounting
Section 2: Deferred Tax and Difference
Basic Terms Explained
Accounting Income and Taxable Income
Impact of Differences
Deferred Tax Assets and Liabilities
Reasonable and Virtual Certainity
Recognition of Deferred Tax
Deferred Tax Example
Bonus Lecture - Discount Coupon Links for other Courses
8 pages

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Instructor Biography

I am a Chartered Accountant with tonnes of passion for teaching.

I teach Financial Management & Strategic Financial Management for Chartered Accountancy, Cost and Management Accountancy and Company Secretary students in Ernakulam, India. I also hold Post Graduate Diploma in Business Administration in Finance from Symbiosis, Pune and Bachelors in Commerce, from Loyola College, Chennai.

I worked in State Bank of India as Assistant Vice President - Credit for a period of four years after which i started my Chartered Accountancy Practice. During the stint in State Bank of India, I worked on credit proposals of Mid Corporate Units and gained good experience in Financial Analysis, Risk Assessment, Viability Study, Evaluating business models, Project Finance, Working Capital Management, etc.

I conduct work shops for Entrepreneurs, Chartered Accountancy / Cost and Management Accountancy Students on the topics like Project Finance, Credit Risk Assessment, Entrepreneurship Development, Finance for Non Finance Executives, etc.

I love teaching and i want fundamentals of accounting and finance to reach students and so i am here.

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