Response to the following questions:
1. If a company believes that it is more likely than not to have future taxable income against which it can use its deferred tax asset, how might the accounting treatment of this deferred tax asset differ under U.S. GAAP and IFRS?
2. Assume a corporation has a deferred tax liability relating to a current asset. Compare the presentation of this amount under U.S. GAAP and IFRS.
If possible, please give examples to better understand your response.