CFA Level I FRA - Tax Base, Deferred Tax Assets, Deferred Tax Liabilities

[@foxleo1181]

The best ever explanation for tax base method!

[@schoolstudying-sn6ek]

Thank you so much for the clear explanation. I loved the visual resources you used in the lecture.

[@cuoivelo8360]

I like this example. It is clearer to me than other

[@TheDominock]

A great explanation. Both curriculum & notes made it overcomplicated. Thank you!!!!

[@roberttylr]

Kaplan Schweser's?

[@TheDominock]

@@roberttylr Yes, Kaplan. During my bachelor's I've had three years of accounting (in the UK) & did my master's in quant finance (UK). Kaplan notes do not make it easy to entirely comprehend how deferred tax entries work. IMHO, they just cannot be explained briefly. That topic requires a larger commitment, I suppose. However, if you disagree with me, please let me know how to approach it so it becomes easily understandable? Thanks

[@roberttylr]

​@@TheDominock Hilariously found myself in a similar position. Four years in accountancy an a BSc in Econ & Biz. I just gave it a little more time and understand it to some degree. I started by thinking of DTL or DTA as contra account entries of some sort that are added to equity in the balance sheet and then it made sense. Have you landed a role in quant fin? Wishing to go down a similar route (it's seemingly becoming saturated)

[@TheDominock]

@@roberttylr Thanks for letting me know. I haven't found any role yet. I am just graduating in the 2nd week of December and so far I have been devoting my time to the CFA preparation until the 17th of February, merely. I don't, actually, think harvesting the data or altering databases is my thing. Personally, I prefer having a real impact on the operations within a company. The quant fin degree has helped me realize that coding is not my thing either. I prefer trading & investments. But who knows, perhaps I'll go for another role. CFA level 1 is a fulfillment of my own ambitions, not necessarily a career-orientated objective. If I fail, I will still be fine cause I know that at some point I'll have enough knowledge to generate passive income from investments. Thus my point is knowledge. I just want to get through FRA cause I do not like it xD Let me know what country you come from and what your objectives are? Maybe we can connect

[@brianaranha8967]

One of the best explanations for income tax

[@gordhangochar7678]

Thank you so much team @PREPNUGGETS Your learning concept is very good and easily understable.

[@CPACCPROF]

EXCELLENT explanation. Thank you!

[@saoemersonsilva]

simple, pratical and extremely useful. Congrats

[@PrepNuggets]

Glad it was helpful!

[@tjk4929]

Great quality...can you make more videos on CPA topics also?

[@scool1018]

Smooth and nice explanation, thanks!

[@financnifitness2583]

Hello, nice video!! What formula was used to calculate the depreciation for tax reporting, I know it was double declining, but I do not have same results :/

[@jaimindesai8279]

best explanation ever.

[@PrepNuggets]

Glad you think so!

[@bijayshah6706]

Why everyone take depreciation as a example to explain this concept? Why don't use other items such as financial assets and liabilities to expalin thae same?

[@cjg1254]

This is very helpful! Thank you.

[@tadiwagoremusandu6212]

Deferred tax made easy here... Thank you

[@AdvancedAcademy-wl8ko]

Please provide some more videos on mathematical problems with their solutions.

[@hagersaberidrees796]

Wooow. This was super helpful. Thank you 👍

[@zeeshansaleem7441]

thanks for explaining

[@MyIdelMind]

Gr8 this standard is always a headache for me :D I hate it.

[@veasnapech1298]

Great!

[@husky9007]

The depreciation value for year 3 under Tax Reporting (I.e., the Double Declining Balance Method) is wrong. Year 3 depreciation should be $6,666.67. (2/3 * 10,000). Or do you not apply depreciation in the final year?

[@weeeek1933]

Lol the asset has a usefull life of 3 years, at the end of the 3 years the value must equal the salvage value (which is 0), meaning last depreciation must be 10k

[@nelsonmosioma5305]

thank you

[@김동완-j8j]

OMG