Accounting for Income Taxes – Part 1

WHAT YOU WILL LEARN

By the end of this event the attendee should:  

• • Understand the philosophy behind deferred tax;
  • Understand how to calculate deferred tax;
  • Understand the assets and liabilities approach to calculating deferred taxation;
  • Understand the tax bases of assets, liabilities and income received in advance;  and
  • Understand how to use the carrying amounts and tax bases of assets and liabilities to calculate and understand deferred tax.

DESCRIPTION

IAS 12 Income Taxes (full IFRS) and Section 29 Income Taxes (in the IFRS for SMEs) were fully aligned in 2015. The two documents have exactly the same requirements in respect of the recognition, measurement, presentation and disclosure of income taxes.

We are presenting a two-part series during which we extensively investigate the important principles covered in the two documents.

Part I looks at the philosophy behind deferred tax including all the information you need to know to calculate it accurately. We will also look at the assets and liabilities approach to calculating deferred tax as well the tax bases of assets, liabilities and income received in advance.  This first part has 3 milestone assessments to solidify the principles discussed.

Part II discuss the six exceptions relating to the tax bases of assets and liabilities. We also look at the presentation of income taxes on the face of the financial statements and disclosure in the notes to the financial statements. Complete Milestone Assessments 4 and 5 to round off this series.

To register for:

• PART I – select REGISTER NOW
• PART II – click here

PRICE

The following pricing apply:

Ad hoc: R575 for this webinar
Subscription: N/A

Study unit 1

Introduction

Study unit 2

Deferred tax – the philosophy behind it.

Study unit 3

How to calculate deferred tax. 

Study unit 4

The assets and liabilities approach.   

Study unit 5

Understanding the tax bases of:

• Assets.
• Liabilities, 
• Income received in advance.

Study unit 6

Using the carrying amounts and tax bases of assets and liabilities:

• To calculate deferred tax.
• To understand deferred tax.

Study unit 7

Milestone Assessments 1 – 3. 

REQUIREMENTS

There are no preconditions for this course.
Moderate level.
Recorded webinar made available on a specified date

PRESENTER

By attending this webinar, you will be provided with:
– Summarised slide presentation.
– Reference documents and / or course material where available.
– Access to a technical knowledge base.
– Recorded webinar that includes an expert presenter and participant interaction.