IFRS: Expenditure, Provisions and Taxation

by Wayne Bartlett

This course looks at some of the important IFRSs that impact on the 'bottom line' through expenditure. The modules look at Accounting for provisions and contingencies, IAS 26, accounting by retirement benefit plans and taxation.

This course is not currently available

This course will enable you to

  • Recognise the difference between provisions and other types of liabilities and the specific rules that must be complied with
  • Consider the range of issues in employee benefits from the payment of salaries to long-term pension benefits
  • Understand the objectives and scope of IAS 26
  • Correctly prescribe the accounting treatment for income taxes

About the course

Accounting for expenditure is a key part of organisational performance measurement. This can be subjective and so this course looks at a number of 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".

Look inside

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Contents

  • 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 short-term employee benefits?
    • What is the difference between post-employment defined contribution and defined benefit plans?
    • How do we account for post-employment benefits when a defined contribution plan is involved?
    • 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?

How it works

Author

Wayne Bartlett

Wayne is an internationally acclaimed speaker and trainer on all aspects of public and private sector accounting and auditing standards. He has been instrumental in helping to develop the profession internationally and has taken lead roles in the development of new professional bodies and the accounting profession in Mozambique and Rwanda, and been extensively involved in developing financial reporting in many countries across the globe.

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