AirAsia's Deffered Tax

I had make a mistake when calculating the EPS of AirAsia, the EPS of AirAsia should lower than the figure that posted in the latest quarterly report. look at the balance sheet of the report, there are 1 item called "Deffered Tax Assets" under "Non current Assets", Deffered Tax shouldn't put under here. Deffered Tax recorded in the income statement is not an earning, it's just a future saving of tax. we should exclude Deffere Tax when we calculating the earning of Air Asia.



Definition of Deffered Tax Assets :
Deferred tax assets generally arise where tax relief is provided after an expense is deducted for accounting purposes.Examples of such situations include:

a company may accrue an accounting expense in relation to a provision such as bad debts, but tax relief may not be obtained until the provision is utilised
a company may incur tax losses and be able to "carry forward" losses to reduce taxable income in future years