Deferred tax assets and deferred tax liabilities are an entity's way of noting the expected future tax consequences of transactions yet to take place. The purpose of deferred tax is to apply the accruals basis of accounting to taxes, noting them in the financial statements even though they may not be payable in this reporting period.
Here's a video on deferred tax which I hope will help your studies. Feel free to drop by eruditeape.com/ for more material on this topic.
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