IAS 12 — Income Taxes

Programme Overview

IAS 12 covers both the tax bill due now and the deferred tax that comes from timing differences between accounting and tax rules. This programme covers current tax, deferred tax, and how temporary differences actually work.

Why This Programme

• ✓Account for current tax correctly
• ✓Understand temporary differences and how they arise
• ✓Recognise deferred tax assets and liabilities correctly
• ✓Know when a deferred tax asset can actually be recognised
• ✓Avoid the common deferred tax mistakes
• ✓Present and disclose tax balances confidently

Assessment

• ✓Current Tax Exercise
• ✓Temporary Difference Case Study
• ✓Deferred Tax Workshop
• ✓Final Review

Main Modules

• Current vs Deferred Tax
  The two halves of income tax accounting
• Temporary Differences
  How gaps between accounting and tax rules create deferred tax
• Recognising Deferred Tax
  When a deferred tax asset or liability actually gets booked
• Presentation & Disclosure
  How tax balances appear in the financial statements