IFRS: Expenditure, Provisions and Taxation

Summary

Accounting for expenditure is a key part of organisational performance measurement. This can be subjective and so this course looks at all the key areas of potential difficulty.

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Venue details:  
Online, ,
Start date & time:  
01 January 2019 00:00
End date & time:  
01 January 2022 00:00
Price: €85.00  (€85.00 Member price)
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CPD hours:  
4.00
Speaker details
First nameLast name
AccountingCPD. net

Description

Product type:  
CPD online course
Category:  
Financial reporting

This can be subjective and so this course looks at all the key areas of potential difficulty:

  • IAS 37 deals with provisions, involving a high degree of estimation and judgement.
  • IAS 19 and 26 deal with employee benefits and retirement benefits plans and the consequences can therefore be substantial.
  • IAS 12 deals with taxation – any miscalculation in this area can be extremely costly.

Throughout the course the focus is on the impact on the "bottom line". 

Course overview

IAS 37: Provisions, Contingent Liabilities and Contingent Assets

  • What are the objectives and scope of IAS 37?
  • What are the key definitions?
  • What is the difference between a provision and other types of liability?
  • What are the specific rules that must be complied with?
  • How do we deal with contingent liabilities and assets?
  • How do I measure provisions?
  • How do I establish and change provisions?
  • What are the disclosure requirements?

IAS 19: Employee Benefits

  • What are the objectives and scope of IAS 19?
  • What are the basic definitions?
  • What do I need to know about employee benefits?
  • What is the difference between post-employment defined contribution and defined benefit plans?
  • How do we account for post-employment benefits in different situations?
  • What changes when a defined benefit plan is involved?
  • How do actuarial assumptions impact on the calculations?
  • How are past services costs and gains and losses on settlements calculated?
  • How are plan assets recognised and measured?
  • What are the disclosures required for defined benefit plans?

IAS 26: Accounting and Reporting by Retirement Benefit Plans

  • What are the objectives and scope of IAS 26?
  • How are defined contribution plans dealt with by IAS 26?
  • How are defined benefit plans dealt with by IAS 26?
  • How are actuarial present values calculated?
  • How should financial statements of the plan be presented?
  • What disclosures need to be made?

IAS 12: Income Taxes

  • What are the objectives and scope of IAS 12?
  • What are the key definitions?
  • How are taxable temporary differences accounted for?
  • How are deductible temporary differences accounted for?
  • How are current and deferred tax liabilities and assets measured?
  • What are the rules relating to recognition of current and deferred tax?
  • How should tax assets and liabilities be presented?
  • What disclosures need to be made?