Deferred Tax
Many accountants don't feel the need to recognise deferred tax - it is more of an accounting concept than a tax to be paid. This course will help you understand why deferred tax should be recognised and gives you everything you need to do this correctly.
Deferred Tax
This course will enable you to
- Recognise deferred tax correctly in the financial statements
- Apply the correct tax rates for deferred tax
- Understand the various accounting treatments for deferred tax
- Make the appropriate disclosures in relation to deferred tax assets
About the course
Many accountants don't feel the need to recognise deferred tax in the financial statements as it is more of an accounting concept, rather than a tax that is paid. However, deferred tax should be viewed as an accruals concept, where a timing difference occurs because a transition arises in one period but can be reversed in another. You need to pay careful attention to deferred tax, to the tax rates applied, and to the correct material disclosures relating to any deferred tax assets or liabilities.
This course will help you understand why deferred tax should be recognised, the importance of timing differences, which tax rates should be used for its calculation, and the fundamental rules for recognising deferred tax assets.
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Contents
How it works
Author
Steve Collings
Steve is Director at Leavitt Walmsley Associates, a firm of Certified Chartered Accountants. He is an internationally recognised speaker, writer and commentator on all matters to do with financial reporting and auditing. Steve is a prolific author, having written over 25 books and currently represents the North West of England on ACCA's Practice Network Panel.
