Accounting for Tax Series: 1 IFRS Essentials


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 IFRS and the Companies Act 2014.

Venue details:  
Chartered Accountants House, , Dublin
Start date & time:  
17 September 2020 09:30
End date & time:  
17 September 2020 13:30
By registering for this course you have accepted the terms and conditions
Training ticket cost:  
CPD hours:  
Speaker details
First nameLast name
Sinead O'Brien


Product type:  
CPD course
Financial reporting, Tax

Who should attend

This course is suitable for 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 Acts accounting framework and IFRS. In addition, this course is suitable for auditors with clients preparing financial statements in accordance with the Irish Companies Acts accounting framework based IFRS and users of financial statements prepared under IFRS.

Course overview

  • Companies Act 2014 and the tax related requirements
  • Tax charges in the financial statements
  • Current and deferred tax requirements under IAS 12 Income Tax in relation to recognition, measurement, presentation and disclosure
  • Specific application of deferred tax in relation to business combinations, financial instruments, revaluations, foreign currency, share based payments, pension schemes, impairment of assets and lease accounting
  • Transitional rules
  • The Initial Recognition Exemption (IRE)
  • Internal controls

Key learning outcomes

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

  • Understand the interaction of company law, with particular focus on the requirements of the Companies Act 2014
  • Recognise how IFRS interacts with tax law
  • Be better equipped to comprehend the rules in IAS 12 Income Tax in relation to recognition, measurement, presentation and disclosure of both current and deferred tax
  • Understand transitional rules on initial adoption of IFRS
  • Identify the IRE
  • Complete the tax reconciliation under IAS 12
  • Highlight internal controls over taxation and interaction with Companies Act requirements (Directors compliance statement)

Speaker bio

Sinead has over 10 years' experience in finance. After obtaining a MSc in accounting in DCU, she commenced her career in PwC, training as an auditor. Sinead then moved to Aer Lingus, working on internal audit and financial reporting, and then as direct tax manager for the group whilst completing the Chartered Tax Consultant 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 course.