The workshop seeks to equip workshop participants with an understanding of the deferred tax concept, accounting for deferred tax and its application.
Key Topics Covered:
1. FRS 12 – Income Taxes
- Balance sheet liability method
- Timing and temporary differences
- Current and future tax consequences
- Manner of recovery
- Withholding taxes
- Uncertain tax positions
- Presentation and disclosure of current tax
2. Understanding the complexities of deferred tax computation
- Locating the starting point?
- Derive the tax base of an asset
- Derive the tax base of a liability
- Define tax base of a liability
- What are the implications of temporary differences
- Apply the exception rule
- Determine the tax rate
- Apply the offsetting rules
- Perform a simple tax reconciliation
- Perform a deferred tax proof
- Perform group tax reconciliation
- Impact of deferred tax for investment properties
- Implications of deferred tax in group situations
- Implications of government grants and decommissioning provisions
- Implications of tax treatment for FRS 115 and 116
This workshop is part of the Financial Reporting Suite and is eligible for a 10% off workshop fees for sign-ups of 2 or more workshops in the suite. Enter code FRS19 at checkout.
Trainer Profile:
Oh Ai Sim
Ms Oh Has over 21 years of audit related experience with a big four accounting firm. Her portfolio of clients includes public listed entities and multinational corporations covering the following industries: retailing, manufacturing, trading, property development and construction. She also conducted in-house and client training covering FRS and audit related topics.
