Deferred Tax is a complex MFRS and effects the new or revised FRS 139 Financial Instruments: Recognition and Measurement; FRS 101 Presentation of Financial Statements; and FRS 3 Business Combinations. The accounting rules for recognising, measuring, presenting, and disclosing deferred taxation are inherently complex as it is continuously undergoing major changes. It is therefore imperative, for preparers of financial statements to be up-to-date and to have sound knowledge on current developments in accounting for deferred taxation.
This program will assist participants in the knowledge of:
- Incorporating the deferred tax effects on the new/revised FRSs such as FRS 139. FRS 101. FRS 3 and etx
- Distinguishing, recognising and relating the basic principles as well as working knowledge in the recognition, measurement, presentation and disclosure of deferred taxation
- Additional advanced and complex issues in accounting for future tax consequences, with emphasis on finding deferred tax assets and liabilities using the balance sheet approach
- Practical guidance on how to use spreadsheet to prepare working papers to support deferred tax computations
WHO SHOULD ATTEND:-
- Accountants & Auditors
- Company Secretaries
- Financial Controllers
- Finance Managers
- Fund Managers & Investment Analysts
MODULES:-
Module 1: Objective of FRS 112
Module 2: Understanding and determining tax base of assets and liabilities
Module 3: Recognition of deferred tax assets and liabilities
Module 4: Measurement of deferred tax assets and deferred tax liabilities
Module 5: Computation format using spreadsheet
Module 6: Presentation and disclosure
Module 7: Solving practical deferred tax issues by case studies
Module 9: Deferred tax on investments in subsidiaries, associates and joint venturesle 8: The effect of deferred tax on business combinations
Module 10: Controlled transfers of assets between group of companies
Module 11: Deferred tax effect on financial instruments
Module 12: Fair value changes in available for sale financial assets
Module 13: Incorporating FRS 101, presenting Other Comprehensive Income (OCI)
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