As corporation tax is generally assessed on an annual basis, calculating a tax expense at an interim reporting date can often be a complex and misunderstood task. This course provides an introduction to the requirements and concepts that should be applied when calculating an interim tax expense.
The course begins with an introductory video and is then divided into five chapters
which explore the following topics in greater detail:
- The Basic Principles – a discussion of the basic principles contained in IAS 34 and an introduction to calculating the forecast annual effective tax rate
- Accounting for Specific Tax Events – an explanation of how to account for specific tax events occurring during the interim period and whether the effect of these events should be accounted for on a discrete basis or included in the forecast rate
- Interim Tax Expense – provides an explanation of how to calculate an interim tax expense for a group operating in multiple tax jurisdictions
- Disclosures and Other Issues – Other aspects to consider when calculating the interim results including the impact of income taxes in OCI, and how to treat entities with a year end differing for financial reporting and tax purposes
The course concludes with a ‘Check Your Understanding’ section which allows the learner to test the concepts learned throughout the course and put his or her learning into practice.
This course is suitable for tax specialists who:
- Have a good understanding of the fundamentals of accounting for income taxes in accordance with the IAS 12 and wish to develop their knowledge further
- Would like to expand or refresh their knowledge of the calculation of income taxes for the purposes of interim reporting perhaps ahead of reporting deadlines
- Work in a Group Tax function and have interim reporting responsibilities
- Work elsewhere in the business but have responsibility for reporting local level tax accounting transactions to Group Tax at interim periods
For further information about the course and its content, please contact Deloitte Store Customer Services by email (firstname.lastname@example.org
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