Available Course

Perform VAT Calculations and complete returns (Logbook)

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Duration: 1 Day
CPD Hours: Attendance at this seminar will secure 6.5 hour/s verifiable CPD points including other professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc)
Course Facilitator: Nerissa Singh
T:  011-886-1395
E:  nerissa@probetatraining.co.za
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An engaged learning platform is provided which will have delegates participating on an interactive level with each other and the facilitator. A safe learning environment is created whereby delegates will be introduced to useful interactivity tools such as tests, polls, breakouts and both audio and visual engagement activities. These tools will support the delivery of theory and understanding of the necessary principles of the course on a practical level. On registration, all relevant course material and information will be made available online. Practical application of the concepts and principles of the VAT Act will be practiced by means of activity sheets contained in a Portfolio of Evidence (PoE) file. The PoE file contains all the detail instructions and activity sheets to enable the delegate to understand exactly what is required. By submitting the PoE for assessment, the delegate will be assessed on the ability to apply these concepts and principles on a practical level. By attending and completing the PoE file (activity sheets) this course will count towards verifiable CPD.

After attending the course, delegates will have gained a basic understanding on the competencies mentioned below, and must be able to apply the concepts and techniques in simple, uncomplicated situations or environments. Our ultimate goal is to provide the trainees the necessary training and practical exposure to proof a ‘Competent’ competency skill at a basic level. This involves in-class discussions and exercises as well as the completion of activity sheets (PoE case studies) after attending the course day, evaluation and feedback. The following competency skills will be assessed: A: Registration and de-registration B: Maintaining monthly records C: Completion of returns D: Calculation of interest and penalties E: Input Reconciliation F: Output Reconciliation G: Zero rated, Exempt, Deemed supplies H: Sections 10, 11 and 12 of the Vat Act I: Handling of a VAT audit J: Submissions of returns on e-filing Other course benefits include: a) professional skills development (writing and reporting skills); b) drafting recommendations which are reasonable and relevant; c) time management; d) critical and strategic thinking; e) assisting with exam technique (research and analysis); and f) individual feedback by an accredited SAICA Assessor. Trainees are guaranteed a relevant and practical basic understanding of VAT calculations and completion of returns

Understand and apply the current rules and rates of VAT a) The reasons behind the introduction of VAT b) The effect of VAT on small businesses, customers and the country is explained using examples that illustrate the advantages and disadvantages c) The rules and rates relating to VAT applied to the transactions of a small business. Calculate Value Added Tax d) VAT output and input tax is calculated in accordance with current VAT rules from gross figures e) VAT procedures applied to cash discounts and trade discounts f) Invoices produced using VAT calculations correctly Set up and maintain VAT records g) VAT transactions recorded and kept according to organisational and bookkeeping practices h) Adequate and accurate sources of information to be obtained for the completion of VAT returns Complete VAT returns for both cash and credit transactions i) VAT returns completed using the records of VAT transactions to calculate the necessary entries The PoE file contains the following activity sheets: • Current rules and rates of VAT • VAT rates • Calculate the input and output VAT • Criticise VAT calculations and suggest corrections • Trade discounts and cash discounts • Assess the validity of tax invoices • Documentation and recordkeeping • Sources of information • Change in use adjustments • Apportionment rules • Overall assessment of the basic VAT principles – completion of a VAT 201 form No pre-course work requirement. On the day of the course: • during the morning session, the relevant theory will be presented and discussed in class with examples; • the delegates will receive additional information to complete the case studies; • based on the research done and the theory dealt with during the course of the morning session, the delegate needs to assess a partly completed management report, analyse, interpret and deliver a properly completed report; • the delegates will be required to complete a self-assessment and personalised action plan; • the delegates will then submit his or her PoE file together with all the working papers to the Assessor at the end of the day. After the course After submission of the PoE (on the day of the course), an accredited SAICA Assessor will evaluate the contents of the submission against the Logbook Training programs competency skills requirements. Feedback will be given on an individual basis, also involving response by the training officer and trainee and recommendations where necessary.

Trainee accountants (SAICA and Logbook), bookkeepers and accountants

Delegates must have the following available on the course day: • Own computers (PC or laptop) with Excel loaded onto the machine • Proper internet connection (Wi-Fi or 3G) with sufficient data for the day • USB headset with microphone and speaker • Webcam (external or built-in) • For the engagement activities and tools, other devices such as the iPad or iPhone are not recommended. Please ensure that the pre course work has been completed prior to attending the course. Please ensure that you are logged in 15 minutes prior to the start of the session

COURSE FEES AND OTHER COMMUNICATION: Course changes / cancellations A minimum of TEN students is required in order to run a course. ProBeta Training reserves the right to change the date or cancel an advertised course without liability. ProBeta’s liability in the event of cancellation will be limited to a refund of the course fee. Any such changes will be communicated at least two weeks prior to the course day by the course administrator. Registered delegates will be contacted via e-mail or mobile contact numbers. A 15% administration fee will be charged on all cancellations. All cancellations must be received in writing 8 working days before the event (course). Thereafter the full training fee is payable. Delegate substitutes are welcome at any time. Course fee changes ProBeta Training cannot be held responsible for any deviations in price from time to time. Pricing will also be confirmed on the individual booking form, course confirmation as well as per invoice issued.