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The frameworks take differing approaches to the recognition of deferred tax assets. However, it would be expected that net deferred tax assets recorded would be similar under both standards.
Deferred tax assets are recognized in full, but then a valuation allowance is recorded if it is considered more likely than not that some portion of the deferred tax assets will not be realized.
Deferred tax assets are recognized to the extent that it is probable (or “more likely than not”) that sufficient taxable profits will be available to utilize the deductible temporary difference or carryforward of unused tax losses or tax credits.

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