Hi fellow-candidates,
I am confused as to why the Deferred Tax Asset is listed under Current Assets (CFA book on FRA page 211), but the Deferred Tax Liabilty is listed under Non-Current Liabilities (page 227). As far as I am thinking, if the asset portion is created with the thought that the deferred tax wil be paid within the next operating cycle, why wouldn’t the liability portion be created with the same assumption?
Thanks!
Tiny Beluga