Overview
Income tax constitutes a significant expense in financial statements, thereby impacting on an entity’s reported financial position and performance. The objective of accounting for income taxes is to reflect the current and future tax effects of all transactions already reported in the financial statements. Accounting for current tax is relatively simple and complexity arises in recognizing and measuring the longer-term deferred tax effects of transactions which represent temporary differences. This one day training provides a comprehensive coverage of IAS 12 governing the recognition, measurement, presentation and disclosure of income tax items and is designed to guide participants through selected complex technical issues associated with accounting for income taxes. An update of changes in the Income Tax Act through the Finance Act 2014 will also be discussed.
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a) Understand how deferred tax liabilities and assets are recognized, measured and presented in the financial statements.
b) Comprehend how to account for special transactions and uncertain tax positions.
c) Appreciate and apply tax amendments as mandated by the Finance Act 2014.
Target group: Tax practitioners and Consultants, Finance staff involved in tax matters, Tax Accountants and Accountants.
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The workshop will be held on Friday, 17th April, 2015 at the Safari Park Hotel, Nairobi from 8.30am-5.00pm. Charges are Kshs.6, 950, and Kshs.12, 950 for ICPAK members and non members respectively. 7 CPD Hours will be awarded to members in attendance.