Deferred Taxes
Just finished watching the Roger CPA Review video that covered deferred taxes. I learned this in my most recent accounting class, so it should be fresher than most material, but mostly my confusion over this area is the freshest memory I have of this topic.
Roger‘s video made it sound a lot simpler than the hours we spent on it in class, and it feels a little unfamiliar, so I might have to dig up my notes and review deferred tax assets and deferred tax liabilities and all that good stuff.
Some of the terms Roger CPA Review uses are new to me, but it might be that I learned the same thing but with different labels for my accounts. I remember something about a contra-deferred-tax-asset or something come up. I need to review both sets of notes and compare to figure out what I already know and what I need to re-learn and what is new.
Anyway, bedtime now, happy studying (or not-studying, if you’ve already passed the CPA exam!)
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You’ve made it to the most important section in financial reporting — taxes! Good luck!