I am going through FRA in the CFAI text and am trying to understand where they came up with the ($43) DTA adjustment for Westvaco. The text states that it is based off of the amount of the deferred tax assets disclosed in Note D of their financials, but I am not seeing it. Here is a link to a pdf of Westvaco’s financials. Thanks for everyone’s help. https://www.cfainstitute.org/canservices/private/pdf/fsareadings/westvaco.pdf Best, TheChad
The net deferred income tax liability at October 31,1999 and 1998 includes the following components: In thousands 1999 1998 Current deferred tax assets: Employee benefits 15,397 15,430 Other 28,089 25,288 43,486 40,718 number they are doing an adjustment for is I believe in Millions - using the 43486 figure above in the table pasted above. This is on Page 26 on the financials provided (on the right side column of the two column page)…
Thanks…I was looking at it completely wrong. Best, TheChad