This session will cover the following: • The requirements as set out in IAS12 for accounting for deferred tax with reference to the carrying values and tax values of relevant items: o Fixed assets, leases and investments o Inventory o Debtors and Creditors o Prepayments and Income received in advance o Provisions and Accruals • Permanent differences that may arise due to a continual mismatch between accounting and tax, such as exempt income • Accounting for and understanding the deferred tax movement, what it represents and where it fits in on the financial statements

Those charged with the responsibility of preparing financial records 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.