IAS 12: Taxes

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?

Webinar Qualifies For

• 2 CPE Credit for Internal Audit Practitioner (IAP)
• 2 CPE Credit for Certified Valuation Analyst (CVA)
• 2 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
• 2 CPE Credit for Certified Management Accountants (CMA)
• 2 CPE Credit of Accounting & Auditing for Certified Internal Auditors (CIA)
• 2 CPE Credit for Qualification in Internal Audit Leadership (QIAL)

FAQs content