For entities with trading operations, the accounting for trading stock might be straightforward. However, the tax implications thereof are not always as easy, or even the same as set out in the accounting standards.
For this reason, ProBeta Training offers a session aimed at informing clients on the correct tax treatment of trading stock, and to clarify any confusion that they may have regarding this process.
This session is set up to address the application of the relevant accounting standards and taxation laws, including but not limited to:
• A comparison between the accounting treatment of trading stock and the taxation treatment thereof
• Change in use adjustments that may need to be made for:
o Income Tax (including CGT)
o VAT
• Practical application of the principles covered
• A discussion of the tax implications for share traders, as well as possible CGT consequences on share trading transactions
Financial managers, Tax Practitioners, Auditors, Bookkeepers, Financial accountants, First year SAICA Trainees, Second year SAICA trainees, and Third year SAICA trainees
