Accounting for Income Taxes – Part 2

WHAT YOU WILL LEARN

By the end of this event the attendee should:  

• • Understand the six exceptions relating to the tax bases of assets and liabilities;
  • Understand the presentation of income taxes (on the face of the financial statements);
  • Understand how to disclose income taxes (in the notes to the financial statements); and 
  • Be able to complete Milestone Assessments 4 and 5 to solidify principles.

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 – click here
• PART II – select REGISTER NOW

PRICE

The following pricing apply:

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

Study unit 1

Six exceptions relating to the tax bases of assets and liabilities:

• Future economic benefits from an asset not taxable – what is the tax base of such an asset?
• The initial recognition exemption from the calculation of deferred tax – what to know?
• The limited recognition of deferred tax assets on deductible temporary differences.
• The limited recognition of deferred tax assets on unused tax losses or tax credits.
• Goodwill arising in a business combination and its impact on deferred taxation.
• Temporary differences relating to investments in subsidiaries, branches, associates and joint arrangements and the exemption thereof from deferred taxation.

Study unit 2

Presentation of income taxes on the face of the financial statements. 

Study unit 3

Disclosure of income taxes in the notes to the financial statements. 

Study unit 4

Milestone assessments 4 and 5

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.