Temporary vs. Permanent Tax Differences in Financial Accounting

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You are literally saving my grade right now in my accounting course.

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The way you said it at 2:25 finally made the lightbulb go on. Thank you soooooo much!!

[@Edspira]

😀

[@jos.4174]

Taking corporate tax online class and this summed up half of a chapter that was confusing the hell out of me. You're very good at explaining.

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Dr. McLaughlin, Your backstory is absolutely incredible and your teaching style is so engaging. You are nothing short of an inspiration to me.

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Don't die trying to climb the arch with suction cups Edspira, I need you alive to keep my accounting dreams going.

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Sir, amazing. You are the best accounting tutor. Love your stuff.

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Thank you for uploading these series of videos, it made life much more easier. Specially the examples are amazing!

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you sir are amazing, keep doing your good work. You explain things in a super clear way that is interesting and not at all boring.

[@Flavor.Frenzies]

This makes so much sense. Im going to cry of joy.

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Thanks! Thanks! I don't know what to tell. You are amazing. You are the best. With you everything is sweet and easy.

[@Edspira]

Wow, thank you!

[@RangerXXT]

wow this explained things so much better than my class instruction did, thank you!!!!

[@Edspira]

Great to hear!

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[@Edspira]

Thank you for watching and best of luck in your studies!

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Wow! So well explained. Simple language and good way to teach!

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Shout out Edspira. You have carried me through literally 60% of my classes in college

[@asifulzead]

helped a lot sir, sitting for the corp.accounting exam soon. thank you

[@Edspira]

Happy to help. Good luck on the exam!

[@elsamorales4898]

Thank you so much for making the concept so easy to understand...

[@campbellblk7484]

I have a hard time understanding taxes and you made simple. Hopefully I get it when I get to deferred tax liability.

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OMG this video saved me so much time！！！THANKS A LOT！

[@Edspira]

No problem!

[@sweetnspicyayisha]

Great job! Thank you for explaining this topic.

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Thank God I found your video!

[@laksahanshadeesha9612]

Wow this is great explaintion sir.

[@tarekalsherif57]

You are always amazing in the explanation, thank you Keep it up! Best regards

[@television6768]

Thank you! I LOVE your videos!

[@niclasbauer3164]

Really good video (s)! Thank you!!

[@mirakhil]

Could you please do a video on Deferred Tax Asset and Liability? Thanks.

[@Edspira]

Coming soon. I hope to have the video up this week.

[@ghoulsunitetv6921]

why did u subtract the 12,000 from 20,000 to get 8,000? shouldnt u subtract the straight line 12,000 -20,000 to get -8000 my question is basically shouldnt u subtract book by tax?

[@tshepangmokhine5583]

excess of tax over book.. basically, how much more than book depreciation is the tax depreciation

[@FemArtByMonica]

How did those amounts under tax depreciation column come about? Are they just a given number or is there a calculation for the accelerated method of accounting for depreciation?

[@crystal.holmes]

The suction cup joke had me in stitches. What is wrong with you?

[@Edspira]

😜

[@Kringle_X]

Can you explain why depreciation is a DTL item? Is it because the government wants to encourage firms to invest? Thanks.

[@wilbertamparo4096]

Its because of temporrary differences. The book depreciation expense could be lower than what was actually deducted per tax return. Hence resulting to higher Carrying Value of the asset per book so it will create future tax liability that must be recognized as DTL since at the moment you enjoyed tax benefit from higher depreciation expense per tax return.

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[@Edspira]

Thank you for the kind words!

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thank you so much for this video.

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Thank you sir!

[@Edspira]

You are welcome!

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You're good

[@nirpabk8887]

I want the tax accounting and timing

[@Edspira]

I'm planning on making more tax videos this summer. This is a more complex topic that will require it's own video. Stay tuned!

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SO Good THX

[@Edspira]

Thanks!

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Ind AS 12

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