Current Tax assets

CFA Level I
#1

I am ashamed to ask this question just 3 days away from exam …:frowning: What creates a current tax asset? I do know how a deffered tax asset is created.

#2

DTA happens when you pay the IRS more than what appears on your GAAP fin stmts

#3

That clear to me Daj… But my question is about current tax assets.

#4

never heard of such an account did did you see this?

#5

kochunni69 Wrote: ------------------------------------------------------- > That clear to me Daj… But my question is about > current tax assets. oh sorry, i read fast, i am ancy and trigger happy. current tax assets, never heard about it.

#6

it could be the current portion of a deferred tax asset though i’ve never come across anything that mentions a current tax asset

#7

I have been going through the Schwser video. Current and deferred tax assets were listed under common accounts for assets. Since its a video, it doesn’t elaborate much

#8

i’m not sure but isn’t it just another (confusing) word to mention temp difference