Do you believe deferred taxation is a valuable part of IFRS, and if so, what is the easiest way to understand its practical effect?
Without these accounts not sure how you would journal tax entries. Unless we want to use tax definition of profit and then profit would have to be calculated according to the tax rules of the relevant country. Makes comparisons between companies impossible
For more details on IFRS please read the following article-> IFRS Detail
For more details on IFRS ACCA please read the following article-> ACCA IFRS DETAILS