Available Course

Corporate Income Tax: Accounting for Income Taxes

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Duration: 1.5 Hours
CPD Hours: Attendance at this seminar will secure 1.5 hour/s verifiable CPD points including other professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc)
Course Facilitator: Corlia Faurie
T:  011-886-1395
E:  nerissa@probetatraining.co.za

The submission and payment of Income Taxes are inevitable realities for companies and the professionals that are charged with the responsibility of handling the tax affairs of these entities. This course is the second in our three-part series, and aims to assist taxpayers and those charged with accounting records with understanding how to do a current income tax calculation for accounting purposes

This session will cover the following: • Brief overview of the tax principles on which the calculation is based (for a fuller coverage on these items, please refer to Part 1 of this series) • Brief overview of IAS12 and the requirements it sets out for accounting for the income tax expense • Adjustments to be made between accounting and tax in order to determine the income tax expense for a financial year • Accounting entries to account for the income tax expense in the financial statements • Understanding the ITSA and reconciling with the financial statements

Those charged with the responsibility of submitting taxes for companies, including tax professionals and financial officers or directors. Auditors will also benefit from this course, as it covers the same principles required when auditing the tax liability and expense.