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21 March 2022

Understanding tax in company accounts

Category: MASTER COURSE

This course gives a clear and logical approach to the accounting for current and deferred taxation, illustrated by a spreadsheet based case study example.

Who should attend?
The course is primarily designed for anyone involved in the preparation of the elements of statutory financial statements relating to taxation in compliance with FRS 102 or IFRS Standards.

What you will gain
Accounting for taxation in company accounts, especially deferred taxation, has for a long time been a problem area for many accountants. This course aims to steer a clear path through the tax accounting rules and disclosure requirements of FRS 102 and IAS 12, and to provide a clear and logical approach to preparing the relevant amounts for recognition and disclosure in respect of current and deferred taxation.

Programme outline
This course gives a clear and logical approach to the accounting for current and deferred taxation, illustrated by a spreadsheet based case study example. Specific areas to be considered include:

The required disclosures and their usefulness to readers, illustrated by extracts from published financial statements

  • The income statement (statement of profit or loss)
  • The balance sheet (statement of financial position)
  • The statement of comprehensive income
  • Notes to the financial statements
The opening position

  • Adjustments due to post publication finalisation of tax liabilities
  • Adjustments for error correction and changes in accounting policy

Deferred taxation

  • The FRS 102 concept: timing differences
  • The IAS 12 concept: temporary differences
  • Areas of consistency
  • Areas where differences arise
  • The 7 step approach to deferred tax: establishing TDs; determining the relevant tax rate; computing deferred tax balances; assessing recoverability of asset balances; computation of performance statement amounts; allocation between “profit or loss” and “other comprehensive income”

Current taxation

  • The tax account
  • Amounts in profit or loss and other comprehensive income
  • Year end balances
The proof of tax and the tax reconciliation

  • Disclosure requirements
  • Amounts to include and exclude
  • Consequences of imbalances
  • Sense checking
Further tax accounting issues

  • Deferred tax issues: revaluations; share based payments; pensions; business combinations
  • R&D tax credits 

The course will start at 9.00am and finish at 12.45pm for morning sessions or start at 2.00pm and end at 5.15pm for afternoon sessions. Refreshments are provided for face-to-face dates.
3 CPD hours (where applicable).

CIMA work in partnership with BPP Professional Education to offer CPD training courses

Booking Information

Date Location Price
21 March 2022 - 14:00 Online Live - afternoon course Price: GBP 315.00
Member price: £284. Plus VAT on all prices.
23 June 2022 - 09:30 London - morning course Price: GBP 315.00
Member price: £284. Plus VAT on all prices.
20 September 2022 - 14:00 Online Live - afternoon course Price: GBP 315.00
Member price: £284. Plus VAT on all prices.
6 December 2022 - 09:30 London - morning course Price: GBP 315.00
Member price: £284. Plus VAT on all prices.


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08/11/2021 09:30:00

FRS 102 - a comprehensive refresher programme

MASTER COURSE

  • Cost:
    GBP 1,299.00
    Member price: £1,169. Plus VAT on all prices. Accommodation not included.
  • Location:
    Online Live - 2.5 day course
  • Speaker(s):

This two and a half day course provides an essential overview of the new UK financial reporting framework. The course covers the main requirements of various sections of FRS 102 and provides practical examples and illustrations throughout to demonstrate key treatments and disclosures required by the new standard.

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Understanding tax in company accounts

CIMA members and students should log in to MY CIMA before booking to receive the appropriate discount.

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In-house training 
We can develop tailored training programmes to enhance the finance and business skills of staff across your organisation. To discuss how we can meet your learning and development needs please email us.

Find out more 
If you have any queries please email cima@bpp.com or phone us on: +44 (0)3300 603400.

The venue for this course will be confirmed 14 days before the scheduled date. 

CIMA work in partnership with BPP Professional Education to offer CPD training courses.  

This course will be delivered by BPP Professional Education Limited (“BPP”).  Accordingly, when you sign up for this course, CIMA will pass on the contact details you have provided to BPP so that they can contact you to complete your booking and process payment.  BPP will process any personal information it collects about you in accordance with its privacy policy, which is available at: https://www.bpp.com/professional-education/privacy

The information provided to BPP will not be used by BPP for marketing purposes.

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