Level I CFA: FRA Income Taxes-Lecture 3

This is Reading 27 for the 2021 exam.
This CFA exam prep video lecture covers:
Recognition and Measurement of Current and Deferred Tax
Presentation and disclosures
Comparison of U.S. GAAP and IFRS
Summary of ""Income Taxes""
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Easy understandable explanation for DTA and Valuation Allowance relation. Thank you Sir, you saved me 2 hours.

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[@abhijeetchoksi]

Thanks so much for this series, sir. I have a small doubt - If an increase in the Valuation Allowance is recorded as a loss on income statement, how does it increase the income tax expense? The EBT should be less and in turn lower taxes right?

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