This course looks at IFRS with an emphasis on taxation, where you’ll learn about various examples of tax systems, as well as tax bases and timing differences.
On completion of this online course, you will gain an understanding of:
- how to discriminate between the classical and imputation systems of taxing corporate income
- how to account for and disclose current tax
- how to identify the tax bases for a variety of assets and liabilities
- how to distinguish between permanent and temporary timing differences
- identifying taxable and deductible timing differences
- distinguishing between the different deferred tax bases and the methods of calculating deferred tax
- how to identify the impact on deferred taxation of using differing tax rates depending on the manner in which an entity recovers or settles the carrying amount of an asset or liability
- how to describe the requirements of IAS 12 in relation to tax disclosures.