BAS Advanced is designed to give those who prepare Business Activity Statements an enhanced understanding of some of the more problematic areas of accounting for GST, such as:
Timing rules for paying GST and claiming GST credits
When the usual timing rules don’t apply, including:
progressive and periodic supplies
asset financing (lease and hire purchase)
deposits and part payments
lay-by sales
issue and redemption of vouchers
The margin scheme
GST adjustments
Correcting GST mistakes
Importing and exporting goods and services
Dealing with selected transactions (such as financial supplies and acquisitions, second-hand goods and barter transactions)
Simplified accounting methods
GST and annual private apportionment
Reporting and paying GST annually
Claiming fuel tax credits
This course consists of one hard copy learning manual and one online assessment.
Want to know more? Click below to view a sample of the learning manual:
Learning objectives
Apply both cash and non-cash methods of accounting for GST
Correctly determine the GST payable and input tax credits claimable for the appropriate tax period using the attribution rules
Demonstrate an ability to apply the special timing rules in respect of progressive or periodic payments, lay-by or leasing arrangements
Calculate adjustments to GST paid or payable and input tax credit claimed or claimable, where adjustment events have occurred
Identify and apply rules applicable to specific topics, including the margin scheme and second-hand goods
Identify and apply important administrative requirements of the GST and Activity Statement regimes
Audience
This course is designed for those in tax accounting roles with responsibility of preparing income tax returns, BAS statements and the preparation of financial statements, whether for an organisation or client, looking for more advanced knowledge in the preparation of activity statements