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Income Tax - Coggle Diagram

- - - - Liabilities : CA of a liability less the amount deductible for tax purposes in the
        future periods
      - Revenue received in advance : CA less revenue not be taxable in future.
      - Assets : Amount deductable for tax purposes against future economic benefits (When it recovers the CA)
- - - - This gives rise to a: Deferred tax asset
        
        When Assets: CA < TB
        
        When Liabilities: CA > TB
        
        Journal Entry
        
        Deferred Tax Assets (SFP)
        
        Deferred Tax (P/L)
        
        (Provision made for deferred tax liability)
        
        xxx xxx
        
        xxx xxx
    - - This gives rise to a: Deferred tax liability
        
        When Liability: CA < TB
        
        When Assets: CA > TB
        
        Journal Entry
        
        Deferred tax expense (P/L)
        
        Deferred Tax Liability (SFP)
        
        (Provision made for deferred tax liability)
        
        xxx xxx
        
        xxx xxx