The provision for deferred tax is a tax equalisation adjustment to represent the difference between the accounting treat of an item and the tax treatment of an item. Over the years this relatively simple ‘tax equalisation’ concept has become more complicated and often leads to confusion with accounts preparers. This course will look at the requirements of FRS 102 and deal with the disclosure and accounting treatment for some of the areas that cause difficulty in practice.
Content will include:
- Section 29 FRS 102 which deals with the accounting treatment of income tax including deferred tax.
- The measurement of deferred tax and its accounting treatment.
- Deferred tax on Business Acquisitions
- A full example looking at the calculation and disclosure of deferred tax under full version FRS 102, Section 1A and FRS 105.
The course is suitable for anyone who prepares accounts which are required to give a true and fair view and so may need to have an understanding of how to prepare and disclose the deferred tax.
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