Controller Interview Questions and Answers

Deferred tax is a liability or asset that arises due to temporary differences between accounting and tax rules.

• Deferred tax arises due to temporary differences between accounting and tax rules

• It can be a liability or asset depending on the nature of the difference

• Examples include depreciation, inventory valuation, and tax credits

• Deferred tax liability is recognized when taxable income is greater than accounting income

• Deferred tax asset is recognized when accounting income is ...read more