DEFERRED TAX ASSETS Definition

Bookmark and Share

DEFERRED TAX ASSETS have an effect of decreasing future income tax payments, which indicates that they are prepaid income taxes and meet definition of assets. Whereas deferred tax liabilities have an effect of increasing future years income tax payments, which indicates that they are accrued income taxes and meet definition of liabilities.

Learn new Accounting Terms

SERVICE CONTRACT is a contract offered by a retailer for maintaining and repairing a product beyond its manufacturers warranty coverage.

CPFF is Cost Plus Fixed Fee.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.