Accounting for Tax: The Irish GAAP Essentials

Summary

This course will provide an understanding of the accounting, reporting, and disclosure requirements in relation to current and deferred tax in financial statements prepared in accordance with section 29 Income Tax of FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

Venue details:  
Chartered Accountants House, , Dublin
Start date & time:  
23 October 2019 09:30
End date & time:  
23 October 2019 13:30
Price: €150.00  (€120.00 Member price)
By registering for this course you have accepted the terms and conditions
Training ticket cost:  
4.00
CPD hours:  
4.00
Speaker details
First nameLast name
SINEAD O'BRIEN

Description

Product type:  
CPD course
Category:  
Financial reporting

Who should attend

  • Finance Directors, financial controllers and accountants wishing to ensure that the financial statements for which they are responsible have been prepared in accordance with the Irish Companies Act accounting framweok and FRS102.
  • Auditors with clients preparing financial statements in accordance with the Irish Companies Acts accounting framework based on FRS102.
  • Users of financial statements prepared under FRS102.

Course overview

  • Companies Act 2014 and the tax related requirements
  • Tax charges in the financial statements
  • Scope of FRS102

    Key learning outcomes

    By the end of this course, participants will be able to

    • Better equipped to comprehend the rules in section 29 of FRS 102 in relation to: Recognition, measurement, presentation and disclosure of both current and deferred tax, complete the tax reconciliation under FRS102, use knowledge gained to ensure compliance with the requirements of the Irish Companies Acts accounting framwork based under FRS102
    • Understand the interaction of Company law, with particular focus on requirements of the Companies Act 2014
    • Recognise how FRS102 interacts with tax law
    • Recognition and measurement of current tax specifically: use of substantively enacted tax rates and prohibition on discounting
    • Recognition and measurement of deferred tax specifically: timing differences, permanent differences, business differences, revaluation of PP& E and Investment Properties, prohibition on discounting and assessing the recoverability of deferred taxation assets- tax credits/ unused losses
    • Presentation in the financial statements, allocation, presentation, offsetting
    • Disclosure requirements - companies act requirements and FRS requirements

    Speaker Bio

    Sinead has over 10 years experience in finance. After obtaining her Masters in Accounting in DCU, She commenced her career in PwC, training as an auditor. She then moved to Aer Lingus, working on internal audit and financial reporting. She then direct tax manager for the group and completed the CTC qualification. Currently, Sinead is the head of finance for the Irish arm of the Norwegian Air group. Sinead facilitates and lectures on the diploma and CTC tax courses.