A CCH Workshop on ACCOUNTING for DEFERRED TAXATION ( 11 & 12 May 2016 )

A CCH Workshop on ACCOUNTING for DEFERRED TAXATION ( 11 & 12 May 2016 )
To:



Accounting for Deferred Taxation

Date    :   11 & 12 May 2016
Time    :   9.00 am - 5.00 pm
Venue  :   Concorde Hotel, Kuala Lumpur         

*Register NOW and get a complimentary copy of  "Financial Accounting & Reporting in Malaysia (Vol. 1, 5th Edition) worth RM178

The computation of deferred taxation is always a challenging task to many accountants and probably the most confusing accounting concepts as there are many rules and at the same time, exceptions. Also, there are many differences that exist between tax rules that are used to determine taxable profit and accounting rules that are used to determine accounting profit.

The accounting requirements are based on MFRS 112 Income Taxes which is effective for financial period on or after 1 January 2012. The standards prescribed in MFRS 112 are based on the standards of IAS 12 (revised), Income Taxes, which focus on temporary differences between carrying amounts of assets and liabilities in the balance sheet and their corresponding tax bases.

With limited exceptions, the Standard requires full provision of deferred taxes for all temporary differences. The amendments to IAS 12 requires that for an investment property measured at fair value, the measurement of the deferred tax liability is based on a rebuttable presumption that the property would be recovered by sale at the end of the reporting period.

CCH Executive Events present a 2-day workshop to enable participants to understand the principles and grasp the advance techniques of computing Deferred Taxation in practice. It also aims to update participants on the new approach to tax effect accounting as required in MFRS 112, Income Taxes. The practical methodology introduced in this workshop will help you come to terms with MFRS 112.


WHO SHOULD ATTEND

Ø  Financial Controllers
Ø  Finance Managers
Ø  Accountants
Ø  Auditors
Ø  Company Secretaries
Ø  Academicians
Ø  Fund and Investment Managers


BENEFITS OF ATTENDING

ü  Practical approach to understanding the principles of deferred taxation with reference to MFRS 112
ü  Worked examples and case studies used to illustrate the computational aspects to learn the principles and advanced techniques of computing deferred taxation
ü  Prepare financial statements disclosure for deferred taxation


PROGRAMME OUTLINE

DAY 1

Introduction to Deferred Taxation
v Historical background to tax effect accounting
v The new approach – the balance sheet liability method
v MFRS 112, Income Taxes – summary of changes made to the original IAS 12

Analysis of the Balance Sheet Liability Method
v Cases on the dual-computation technique
v Cases on the proof of Deferred Taxation
v Cases on the tax effects of hire purchase and leased assets

Understanding the Tax Effect Arising From Revaluation of Property Plant and Equipment
v Practical tips: Tax effect requirement arising from revaluation of non-depreciable freehold land and depreciable property, plant and equipment

Measuring the Weighted Average Tax Rate for Small and Medium Companies (SMC)
v Practical tips: Measurement of deferred tax for SMC when scaled rates apply

Presentation and Disclosure Requirements of MFRS 112
v Practical tips: Presentation and disclosure requirements of MFRS 112
v Practical tips: Reconciliation of effective tax rate to statutory income tax rate

DAY 2

Understanding Accounting for Unused Tax Losses, Recognition of Deferred Tax Assets and Their Related Disclosures
v Accounting for unused tax losses
v Dealing with recognition of deferred tax assets
v Explanation of the related disclosure requirements

Analysis of Tax Effects of Carrying Assets at Fair Value
v Tax effect requirements for assets measured at fair value
v Investment property, financial assets and biological assets measured at fair value

Handling Tax Effects Arising in Business Combinations
v Tax effects of acquisition of land-based companies
v Tax effects of fair value adjustments in a business combination
v Tax losses of an acquiree in a business combination

Dealing with Tax Effects of Tax Incentives
v Tax effects of pioneer status
v Tax effect of reinvestment allowances (RA), investment tax allowance (ITA) and industrial adjustments allowance (IAA)
v Other tax incentives, such as export promotions and double deductions

Analysis of Tax Effects Arising on Issuance of Compound Financial Instruments
v Tax effects of compound financial instruments
v Practical tips: Tax effects of Redeemable Convertible Unsecured Loanstocks
v Practical tips: Tax effects of Irredeemable Convertible Unsecured Loanstocks

Pre-requisite: Participants are advised to bring their laptop to this highly interactive and hands-on course.


WORKSHOP LEADER

Prof Tan Liong Tong is a Technical Consultant to Mazars Malaysia. He currently serves as a Project Manager of the MASB Working Group (WG 63) on Consolidation. He is a member of MIA, MICPA and a fellow member of IBBM. He has served as a Council member of the MICPA and a member of its Accounting and Auditing Technical Committee, and a member of the Accounting and Auditing Standards Committee of the MIA. He was previously engaged as a Technical Consultant to the MASB and the Securities Commission (SC). He was previously an
Associate Professor with the Graduate School of Management, University Putra Malaysia. He had also served as chief examiner, an academic advisor, and as a project manager for  various working groups of the MASB. Much in demand as a consultant to various institutions and organisations, he has published numerous research articles, books, monographs and practice manuals in the field of financial accounting and reporting.


WORKSHOP FEE

Fee includes workshop materials, certificate of attendance, lunch and refreshments.

CCH Executive Events Corporate Member/
CCH Subscriber                                      :        RM 2,098.80
Non-Subscriber                                      :        RM 2,332.00

* Prices are inclusive of 6% GST

For full information, please refer to the brochure attached or click on this link :-


The above workshop is HRDF claimable under the Skim Bantuan Latihan and to sign up, please complete the registration form and scan to e-mail back to me soonest.

Do contact me anytime for further clarification and assistance. 


Thanks & regards,

Sarah Abdullah
Senior Events Consultant 

Commerce Clearing House (M) Sdn Bhd
Level 26, Menara Weld
No. 76, Jalan Raja Chulan, 50200 Kuala Lumpur
D   :  +603 2024 8608
F    :  +603 2026 2093
E    :  sarah@cch.com.my


Please click HERE for our upcoming CCH Executive Events.

MAY 2016 EVENTS :-

1)   Behavioural Leadership ( 16 & 17 May 2016 )

2)   Tackling Technical GST Issues - Getting it Right ( 17 May 2016 )

3)   Effective Cash Flow Management ( 18 & 19 May 2016 )

4)   Capital Allowances - Effective tax planning to optimise your tax relief on capital allowances ( 19 May 2016 )

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