Your Simple Guide to Deferred Tax for IAS 12 | ACCA Study
Deferred tax is one of those SBR topics that students often find difficult. In this episode, I go back to the basics of IAS 12 and explain both the why and the how. I show how deferred tax links to the matching concept before introducing temporary differences, tax bases, deferred tax liabilities and deferred tax assets.
You’ll then see how the rules work through four simple numerical examples covering revalued land, impairment, capital allowances and provisions. I’ll show you a logical step-by-step approach that you can apply in the exam, so you can explain the accounting treatment clearly, perform the calculations efficiently and earn the marks available.
Thanks for listening to this episode of Pass Your SBR ACCA Exams with Tom Clendon.
If you’d like to view the exam question on screen and see my working, subscribe to the YouTube Channel: https://www.youtube.com/@tomclendonSBR.
For access to on-demand support and guidance for your ACCA SBR Journey, visit my website to see my current course offering: https://tomclendon.co.uk/.
Chapters
(0:00) Why deferred tax matters
(1:51) What this episode will cover
(3:30) The matching concept explained
(6:15) Why current tax may not match accounting profit
(8:13) How deferred tax restores the match
(11:57) Temporary differences, carrying values and tax bases
(13:51) Deferred tax liabilities versus deferred tax assets
(16:21) The six-step approach to deferred tax questions
(16:36) Example 1: Revaluation of land
(21:05) Example 2: Impairment of investment property
(24:34) Example 3: Capital allowances on PPE
(27:20) Example 4: Deferred tax on a provision
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