This course has been designed in two parts:
Part 1: Online Recording: dealing with the basic concepts pertaining to Deferred Tax.
Please note: This online recording is not a pre-requisite in order to attend the workshop. It is however highly recommended that delegates work through this content as it provide the basic concepts to deferred tax, as well as important reconciliations. During the first half an hour of the workshop we will deal with any questions pertaining to the content covered in the online recording.
Part 1: Online Recording
1) Introduction to Deferred Tax
- Why deferred tax was introduced
- Key concepts of IAS 12: Income Taxes
- Deferred tax proof
2) Tax Rate Reconciliation
- What does the tax rate recon explain?
- Why do we do a tax rate recon?
- Items to expect in the tax rate recon
3) Fixed Asset Proof
- Why do we do a fixed asset proof?
- What is a fixed asset proof?
- Practical example to understand how to complete the proof
4) SARS Account Reconciliation
Maintaining an accurate and complete SARS account working which tracks each year of assessment and reconciles back to the ledger is a fundamental tax control
- Why do we do the SARS account reconciliation?
- What can we typically expect in the SARS account?
This session works through and explains a simple template and process for maintaining the SARS account reconciliation.
Part 2: Workshop/Webinar Attendance: During the workshop, we will have a comprehensive discussion on Tax Principles on Specific Temporary Adjustments.