Is deferred taxes heavily tested on the actual exam? I feel like I've been studying this topic for hours, and I cannot wrap my head around it. I'm scoring in the 50's in the Becker MCQ's, but I'm not sure if its something I should keep spinning my wheels on, or if I should just move on and forget about it until final review week. From what I hear, governmental and NFP, bonds, pensions, and leases are heavy on the actual exam. Can anyone confirm if deferred taxes/income taxes showed up on your exam? Thx
AUD - 78 BEC - 84 FAR - 79 REG - 85
“An investment in knowledge pays the best dividends” - Benjamin Franklin
Showed on mine, (last testlet, one on these that i did in last minutes i dont even remeber how i answered).
The concept is easy but they used a vague language, they called it (temporary deductible deference ) whish is a deferred tax asset, and (temporary taxable difference) which is a deferred tax liability basically.
These terms are present in the codification i checked, so they are legit terms.
Look becker and Others do a bad job explaining it, search instead for a guy named (Edspira) on YouTube he does a wonderful job explaining this topic, you would see for yourself how easy and basic the topic really is, if i had this type of question while fully relaxed at home i would have had aced it, but i dont even remeber how i did! Thats why i hate myself.
P.s. I hope i am not violating the NDA agreement, as this topic was in a previous aicpa practice exam+ I didn't tell you is it a sim or mcq will leave that up to you 😉