DEFERRED TAXATION by CASE STUDIES
Date: 4 Aug '11
Time: 9:00am - 5:00pm
CPE/CPD: 7 hrs
Reg Deadline:
20 Jul '11
About the seminar
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The "Deferred Taxation by Case Studies" workshop will progress to advanced aspects and complex practical problems in accounting for deferred taxation. It uses specific mini case studies designed to provide practical guidance with emphasis on using spread sheet to prepare working papers. You are encouraged to use this platform to discuss current controversial issues regarding the application and interpretation of FRS12.
Why you should attend
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The objective of accounting for deferred taxation is to account for future tax consequences that existed at financial period end. These future tax consequences are the result of an entity’s past transactions and events. The accounting rules for recognising, measuring, presenting and disclosing deferred taxation are inherently complex as well as continuously undergoing major changes. It is therefore imperative that preparers of financial statements should have sound knowledge as well as being up to date with current developments in the accounting for deferred taxation.
Outline
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▪ Future tax consequences on properties (using cost model, revaluation model, fair value model)
- Freehold land, leasehold land, building claiming Industrial Building Allowance (IBA), building not claiming IBA; investment properties
▪ Effect of deferred tax on financial instruments:
- Zero coupon bonds
- Hybrid financial instruments
- Available for sale financial assets
- Financial assets held for trading
- Financial assets and liabilities at amortised costs
▪ Provisions
▪ Impairment of receivables individually assessed and collectively assessed and Property Plant and Equipment
▪ Effect of foreign exchange
▪ Changing tax rate
▪ Hire purchase and leasing
▪ Utilisation of tax losses
▪ Loss making entities
▪ The effect of deferred tax on business combinations (Integrating FRS103 Business Combinations)
▪ Fair value adjustment and its impact on consolidated goodwill
▪ Deferred tax and unrealised profits
▪ Acquiree's losses at date of acquisition
