IFRS recognizes tax assets by analyzing whether it is "more likely than not" that the asset will be realized.

Name: IFRS recognizes tax assets by analyzing whether it is "more likely than not" that the asset will be realized.
Brand: Quizplus
Rating: 4.9 (53 reviews)

Question

Quizplus · Accepted Answer

IFRS recognizes deferred tax assets based on the criteria that it is probable that future taxable profit will be available against which the asset can be utilized. The "more likely than not" threshold is used under US GAAP, not IFRS.

IFRS Recognizes Tax Assets by Analyzing Whether It Is "More