Accounting Standards
IAS 12 - Income Taxes
Current Tax, Deferred Tax, and Temporary Differences Under IAS 12
2 CPD credits on completion
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Certificate on completion
Downloadable resources
Self-paced learning
About This Course
Course Information
The learning outcomes from this accounting standards CPD course include: Understanding current tax Applying deferred tax Recognising deferred tax assets and liabilities Understanding deferred tax asset
Certificate on Completion
This course is made up of videos, questions and additional reading materials and accounts for 2 units of CPD . One unit is the equivalent of one hour of learning. A certificate will be issued once you have completed all 2 units.
Course Sections
This course is made up of the following sections:
- Current Tax (video)
- Current Tax (quiz)
- Deferred Tax (video)
- Deferred Tax (quiz)
- Recognising deferred tax assets and liabilities (video)
- Recognising deferred tax assets and liabilities (quiz)
- Deferred tax assets (video)
- Deferred tax assets (quiz)
What You Will Learn
- Distinguish between current tax and deferred tax and explain why both must be recognised in the financial statements
- Define temporary differences and classify them as taxable or deductible
- Calculate deferred tax assets and deferred tax liabilities arising from temporary differences between carrying amounts and tax bases
- Explain the tax base of an asset or liability and how it differs from its carrying amount in the financial statements
- Identify situations where deferred tax should not be recognised, including the initial recognition exemption
- Apply the rules for recognising deferred tax assets, including the requirement that future taxable profits must be probable
Who This Course Is For
- Accountants who calculate and report income tax provisions under IFRS
- Auditors reviewing deferred tax positions in financial statements
- Finance professionals preparing for professional exams covering IAS 12
Prerequisites
- Basic understanding of corporate income tax and how it relates to accounting profit
- Familiarity with the statement of financial position and statement of profit or loss
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Course Details
CPD Credits2
CertificateYes
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