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IAS 12: Taxes

  • Accountant
  • CPA/ABV
  • CPA/CFF
  • CFE
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CA - ICAEW
  • CFA
  • IAP
  • QIAL
  • ACCA
  • CIPM
  • CBA/MCBA
  • FPAC
  • CA - Ireland
  • CA - Scotland
  • CPA - Ireland
  • CFIRS
  • CWS

Published: January, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Asset/Liability recognition
    13 mins
  • Foreign and domestic taxes
    22 mins
  • Tax base without recognition
    45 mins
  • Recognition of current tax assets and liabilities
    50 mins
  • Initial recognition of an asset or liabilitiy
    69 mins
  • Items recognized outside profit or loss
    89 mins

Course Description

IAS 12 Income Taxes implements a so-called 'comprehensive balance sheet method' of accounting for income taxes which recognizes both the current tax consequences of transactions and events and the future tax consequences of the future recovery or settlement of the carrying amount of an entity's assets and liabilities.

We all know that domestic and foreign taxes are based on taxable profits. But how exactly do you account for the current and future tax consequences of transactions and other events in IFRS? When can you defer taxes and when do you have to record a tax expense? What about taxes on the revaluation of assets? How do you account for taxes on share-based payments (options)? Can you offset tax assets and tax liabilities?

This online CPE course will answer these and many other questions so you can understand the advanced tax implications of IFRS. You will be able to identify the main features of the Conceptual Framework and the IFRS and IAS standards.  

This online CPE Accounting webinar covers following key topics:

  • Foreign and domestic taxes
  • Recognition of tax liability
  • Measurement, revaluation, and discounting of deferred tax assets and liabilities
  • Investments in subsidiaries, branches and associates and interests in joint ventures
  • Items recognized within and outside profit or loss
  • Tax effect (including deferred tax) of a business combination
  • Deferred tax liability
  • Current and deferred tax on share-based payment transactions
  • Financial Statement Presentation and Disclosures

Learning Objectives

  • To apply the treatment of future recovery (settlement) of the carrying amount of assets (liabilities)
  • To allocate correctly tax liability
  • To know how and when to offset of tax assets and tax liabilities
  • To understand taxable and deductible temporary differences and unused tax losses and credits
  • To understand the rules for re-valuating deferred tax assets

Recommended For

  • This Online CPE webinar for CPAs is recommended for CPAs, CMAs, CIA, CVA, IAP, QIAL, and Any Other Accounting Professionals who desire to help their clients with the IAS 12 details and updates

Who Should Attend?

  • Accountant
  • Accounting and audit managers/practitioners
  • Accounting Firm
  • Accounting Managers
  • Auditors
  • Bookkeepers & Accountants & Tax Preparers
  • Business Owner
  • Certified Management Accountant (CMA)
  • Certified Public Accountant (CPA)
  • CFO/Controller
  • Chief Accounting Officer
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Director of Financial Reporting
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 CPE Credit for Internal Audit Practitioner (IAP)
  • 2 CPE Credit of Financial accounting for Certified Valuation Analyst (CVA)
  • 2 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 2 CPE Credit of Financial Reporting for Certified Management Accountants (CMA)
  • 2 CPE Credit of Financial Accounting for Certified Internal Auditors (CIA)
  • 2 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 2 CPE Credit of Financial accounting for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2 CE Credit for Certified Wealth Strategist (CWS)
  • 2 General Credit for Accountant/Bookeeper
  • 2 CPD Credit for Chartered Accountants - Ireland (CAI)
  • 2 CPD Credit for CPA - Ireland
  • 2 CPD Credit for Chartered Accountants - Scotland
  • 2 CPD Credit for CA - ICAEW
  • 2 CPD Credit for Chartered Certified Accountants (ACCA)
  • 2 CPD Credit of Financial Reporting for Accredited in Business Valuation (ABV)
  • 2 CPD Credit of Financial Reporting for Certified Financial Forensics (CFF)
  • 2 CPE Credit of Accounting for Certified Fraud Examiner (CFE)
  • 2 CPE Credit for Certified Government Financial Manager (CGFM)
  • 2 PL Credit for Chartered Financial Analyst (CFA)
  • 2 PL Credit for Certificate In Investment Performance Measurement (CIPM)
  • 2 CRE Credit for Certified Corporate FP&A Professional (FPAC)

Additional details

  • Course Level :
    Basic
  • Credits :
    2
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Michel Morley

Founder, Mike Morley

Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.

An entertaining and informative speaker and trainer, Mike is the author of:

“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.

 “Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.

“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.

Faq

FAQs content

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