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Andrew Schmidt Explains Deferred Tax Asset Decisions
Andrew Schmidt’s, associate professor of accounting, recent report on corporate use of deferred tax assets helps explain why a company should not record an allowance against its deferred tax asset.
“The fair market value of MicroStrategy’s bitcoin holdings as of the [Dec. 31, 2021] balance sheet date is approximately $5.7 billion,” said Schmidt. “The sale of this bitcoin would likely generate enough capital gain to offset the capital loss created by the $0.8 billion bitcoin impairment in 2021.”
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