Accounting for business combinations and income taxes (75700904) - Learning manual

Description

This learning manual provides a broad coverage of the accounting requirements for business combinations and income taxes.

Accounting for business combinations

This course will provide you with the knowledge to understand and apply the accounting treatments for different business combinations including parent/subsidiary relationships, associates and joint ventures.

Note: It is expected that you already have an understanding of International Financial Reporting Standards.

Accounting for income taxes

IAS 12 Income Taxes prescribes the accounting treatment for income taxes in an entity’s financial statements. It:

• Outlines how an entity should account for both the current and future tax consequences of its transactions in the accounts.
• Prescribes the detailed disclosure requirements in relation to income tax and deferred tax assets and liabilities.

This course includes one printed learning manual and two online assessments.

Want to know more? Click below to view a sample of the learning manual:

Learning objectives

• Identify and measure types of investments.
• Determine the relevant accounting treatment for an investment.
• Apply the equity accounting method for associates and joint arrangements.
• Consolidate investments.
• Assess the accounting impact of changing an interest in an investment.
• Identify the different disclosure requirements for subsidiaries, associates, joint arrangements, and foreign operations.
• Calculate income tax expense (on the front page of the income statement).
• Calculate current tax expense (the amount of tax owing to the taxation authorities for the current year), including identifying some of the most common differences between accounting deductions and tax deductions.
• Calculate deferred tax expense (which comprises deferred tax assets and deferred tax liabilities).
• Apply the rules contained in IAS 12 with regards to recognition of tax losses and the recoupment of tax losses in a subsequent financial year.
• Identify and account for a range of advanced tax-effect accounting issues (such as asset revaluations, share issue costs, luxury cars, the tax-effect accounting implications of consolidation and equity accounting, as well as compound financial instruments).
• Summarise the key financial statement disclosure requirements of IAS 12.

Audience

These learning manuals are specifically designed for finance professionals who are involved in:

• external reporting
• financial management
• accounting administration
• management accounting
• financial accounting