This course places emphasis on the practical application of IAS 12 Income Taxes, including how tax-effect accounting is applied to a set of financial statements.
Key topics:
- Income tax expense
- Determining income tax expense
- Calculating current tax expense
- Calculating deferred tax expense
- Recognition of DTAs and DTLs
- Offsetting current and deferred tax balances
- Disclosure requirements
- Advanced tax-effect accounting issues
- Items recognised outside of profit and loss
- Asset revaluation and CGT assets
- Motor vehicles and the depreciation car cost limit
- Share issue costs
- Business combinations and fair value adjustment
- Equity carrying amounts and tax-effect accounting
- Compound financial instruments
This course consists of one online course and one online assessment.