Online Course
Apr 29, 2020 - Apr 30, 2020
2 Students Enrolled
Price€60
Payment MethodBook Now

Course overview:

This 6-hour course is a financial reporting course, which means that income tax treatment and tax computations are out of scope. It will include numerous practical examples illustrating the concepts included in IAS 12 ‘Income Taxes’, in particular relating to deferred taxation, and IAS 20 ‘Accounting For Government Grants And Disclosure Of Government Assistance’, whilst comparing to GAPSME when necessary.

IAS 12 prescribes the accounting treatment for income taxes. This includes current tax and deferred tax. Current tax refers to the amount of taxes payable or recoverable in respect of the taxable profit or tax loss for the period. Current tax is the result of an income tax computation. Tax credits are within the scope of IAS 12. Deferred tax refers to the amount of income tax payable or recoverable in future periods. It is an accounting adjustment that fulfils the matching concept.

IAS 20 is applied when accounting for government grants and in disclosing both government grants and government assistance. Tax credits are not within the scope of IAS 20.

Audience:

The training course is specifically targeted to accounting professionals and students, especially those who are pursuing or intend to pursue a career in audit, accountancy or IFRS expertise.

Keynote:

Participants are expected to have a solid understanding of basic accounting concepts, including double entry and basic financial reporting.

Dates:

Wednesday 29th April 2020 and Thursday 30th April 2020

Time-table:

Wednesday 29th April 2020

13:45 – 14:00 – Registration

14:00 – 15:30 – Part 1

15:30 – 15:45 – Coffee Break

15:45 – 17:00 – Part 2

17:00 – 17:15 – Question Time

Thursday 30th April 2020

13:45 – 14:00 – Registration

14:00 – 15:30 – Part 1

15:30 – 15:45 – Coffee Break

15:45 – 17:00 – Part 2

17:00 – 17:15 – Question Time

CPE Accreditation:

6 core hours

Tutors:

John Debattista and Paul Zammit

Course Agenda:

Day 1:

 Part 1:

  • Introducing current tax, deferred tax, government grants and government assistance.
  • Current tax – theory.
  • Current tax – practical examples.
  • Deferred tax – theory.

Part 2:

  • Deferred tax – practical examples.
  • Income tax disclosures.

Day 2:

 Part 1:

  • Income-related government grants – theory.
  • Income-related government grants – practical examples.

 Part 2:

  • Asset-related government grants – theory.
  • Asset-related government grants – practical examples.
  • Disclosures for government grants and government assistance.