question archive During the financial crisis that occurred in 2008 and 2009 there were a number of financial institutions that reported large operating losses
During the financial crisis that occurred in 2008 and 2009 there were a number of financial institutions that reported large operating losses
Subject:FinancePrice: Bought3
During the financial crisis that occurred in 2008 and 2009 there were a number of financial institutions that reported large operating losses. One such example was Citigroup, which recorded $60 billion in losses that resulted in a huge deferred tax asset of $28.5 billion. Many analysts expressed doubt that Citigroup would ever be able to earn enough money in a reasonable time frame to justify carrying a deferred tax asset that large on their books. Should the accounting rules regarding deferred tax assets be more definitive to prohibit this type of activity or do you feel the vagueness of the current standards are adequate?
