Based on AUSTRALIAN PACIFIC COAL LIMITED company annual report answer the question given below:

i)Briefly explain the concepts of accounting profit, taxable profit, temporary difference, taxable temporary difference, deductible temporary difference, deferred tax assets and deferred tax liability.

ii) Briefly explain the recognition criteria of deferred tax assets and deferred tax liability. iii) What is your firms tax expense in its latest financial statements?

iv) Is this figure the same as the company tax rate times your firms accounting income? Explain why this is, or is not, the case for your firm highlighting the reasons for differences.