ΠΕΡΙΓΡΑΦΗ

This seminar aims to provide a comprehensive understanding of IAS 12 Income Taxes, focusing on the recognition, measurement, presentation, and disclosure of current and deferred tax. Participants will gain practical insights into the application of IAS 12, including the treatment of taxable and deductible differences, deferred tax assets and liabilities, and the impact of tax rate changes. The session will also address key challenges, pitfalls, and compliance requirements, equipping professionals with the knowledge to apply IAS 12 effectively in financial reporting.

ΣΚΟΠΟΣ ΣΕΜΙΝΑΡΙΟΥ

By the end of the course, participants will be in position to:-

• Understand the scope and key definitions of IAS 12 Income Taxes, including treatment of interest and penalties.

• Recognize and measure current tax liabilities and assets using enacted tax rates.

• Identify taxable and deductible temporary differences and account for deferred tax liabilities and assets.

• Apply rules on unused tax losses and exemptions (e.g., IR exemption).

• Measure deferred tax assets and liabilities, including adjustments for changes in tax rates and gradual rate structures.

• Account for tax effects in Other Comprehensive Income (OCI) and consolidated financial statements.

• Prepare accurate presentation and disclosure, including tax rate reconciliation and cash flow reconciliation.

• Anticipate common challenges and pitfalls in applying IAS 12 and strengthen confidence through practical examples.

ΣΕ ΠΟΙΟΥΣ ΑΠΕΥΘΥΝΕΤΑΙ

This seminar is tailored for accountants and auditors from both group and individual company backgrounds. It is particularly suited for those with professional qualifications or substantial experience in the preparation, analysis, and presentation of financial statements.

ΠΕΡΙΣΣΟΤΕΡΕΣ ΠΛΗΡΟΦΟΡΙΕΣ

Seminar Outline

Overview of IAS 12

Scope and Key Definitions

• Interest and penalties

Recognition of Current Tax Liabilities and Assets

• Enacted Tax Rates
• Taxable & Deductible Differences

Recognition of Deferred Tax Liabilities and Assets

• Unused Tax losses
• IR Exemption

Measurement of Deferred Tax Liabilities and Deferred Tax Assets

• Changes in tax rates
• Gradual tax rates

Other Recognition and Measurement principles

• OCI Recognition
• Consolidated Financial Statements

Presentation & Disclosure

• Tax Rate reconciliation
• Cash flow reconciliation
• Challenges and Pitfalls
• Summary / Questions and Answers 

Certification

All participants will be awarded a certificate. Each hour of attendance will account for one unit of Continuing Professional Development (CPD) as required for members of most professional bodies.