About this Course

This programme provides an overview of FRS 12 Income Taxes with several illustrative examples to explain the application of the requirements of FRS 12. To anchor an understanding of the application of the standard, the programme explains the rationale for the tax base approach and complex requirements in the standard. Building on the conceptual explanations, detailed computational examples are given to illustrate specific applications of the standard. The programme also highlights some potential changes on deferred tax accounting arising from projects on the International Accounting Standards Board’s agenda.

Programme Outline 

Particular issues that will be dealt with during the programme include:

• Tax base and the tax balance sheet
  
• Taxable temporary differences relating to
  

              - Business combinations

              - Initial recognition of an asset or liability

              - Assets carried at fair value

Goodwill

• Deductible temporary differences relating to
  

              - Initial recognition of an asset or liability

• Accounting for deferred tax assets
  
• Measurement of deferred tax liabilities and deferred tax assets
  
• Presentation and disclosure issues
  
• Proposed changes in ED IAS 12
  

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