Financial Reporting Suite:Deferred Tax - Workshop 2019

Overview

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.

Objectives

• Gain a practical understanding of the concepts and application of FRS 12 Income Taxes
• Build a solid foundation in deferred tax accounting with the step-by-step guidance given by the Trainer

Audience

This workshop is suitable for Accountants, Financial Managers, Finance Controllers and anyone who is interested in the key SFRS requirements and its application