Deferred Tax
Many accountants don’t feel the need to recognise deferred tax – it is more of an accounting concept than a tax to be paid. This course will help you understand why deferred tax should be recognised and gives you everything you need to do this correctly.
£150 +VAT
Deferred Tax
£150 +VAT
365 days’ access
This course will enable you to
- Recognise deferred tax correctly in the financial statements
- Apply the correct tax rates for deferred tax
- Understand the various accounting treatments for deferred tax
- Make the appropriate disclosures in relation to deferred tax assets
About the course
Many accountants don’t feel the need to recognise deferred tax in the financial statements as it is more of an accounting concept, rather than a tax that is paid. However, deferred tax should be viewed as an accruals concept, where a timing difference occurs because a transition arises in one period but can be reversed in another. You need to pay careful attention to deferred tax, to the tax rates applied, and to the correct material disclosures relating to any deferred tax assets or liabilities.
This course will help you understand why deferred tax should be recognised, the importance of timing differences, which tax rates should be used for its calculation, and the fundamental rules for recognising deferred tax assets.
Please Note: This course only covers tax in the United Kingdom
Contents
Deferred tax: the basics
Defining deferred tax
Deferred tax explained
What to bear in mind
Tax regime differences
Common problems
Tax rates
Tax rates and deferred tax
Changes in tax rate
Tax rate change timings
The wrong tax rate
Further considerations
Assets and liabilities
Accounting for deferred tax
Remeasuring investment property
Investment property gains and losses
Property, plant and equipment revaluations
Defining a business combination
Deferred tax and business combinations
Deferred tax assets and liabilities
Deferred tax assets
Presentation of deferred tax liabilities
Disclosure requirements for deferred tax
Creating deferred tax assets
Author
Steve Collings
Steve is Director at Leavitt Walmsley Associates, a firm of Certified Chartered Accountants. He is an internationally recognised speaker, writer and commentator on all matters to do with financial reporting and auditing. Steve is a prolific author, having written over 25 books and currently represents the North West of England on ACCA”s Practice Network Panel.
10 reviews for Deferred Tax
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Saagar Patel –
I think rather than separate examples, a holistic case study looking at the preparation of some simple accounts which brings together a number of deferred tax asset and liability adjustments would be really helpful for preparers such as myself for some practical context.
Frances Coffey –
Clear explanations and good examples. Broken down into manageable sections.
Robert Fawell –
A thorough guide and relatively easy to follow.
Esther Jordan –
I chose this course because I really don’t like it but understand how important it is to get to grips with the different treatments of DT and how and when to recognise it. The course is laid out very clearly and builds up at a good pace. I do feel more comfortable to be more proactive in discussions involving deferred tax.
Blanca Torres Diaz –
Informative
Jennifer Ampiah –
very good
Jennifer Mallender –
It was a good course with an easy to follow explanation of deferred tax
Mark Dunthorne –
Very informative.
Anna Szczgiel –
This course contains a lot of useful content.
Iain Goddard –
It helped me understand parts of Deferred tax that I did not already know