FRS 12 ‘Income Taxes’ continues to be a difficult and sometimes confusing standard to understand and implement. CCH is pleased to present a comprehensive and ‘hands-on’ review of the requirements of the standard.

This technical workshop provides a detailed and comprehensive understanding of the complexities of FRS 12 that relate to the recognition, measurement, presentation and disclosure of deferred taxes.

PROGRAMME OUTLINE
Overview

- Principles of deferred taxation

- Understanding tax bases and temporary differences

- Basis of provision under the balance sheet liability method

Deferred Tax Implications Arising From Assets Carried at Fair Value

- Goodwill

- Initial recognition of an asset or liability

- Exemptions from recognition of deferred tax liabilities

Deferred Tax Arising From Business Combination

- Fair value adjustments

- Additional assets and liabilities recognised on consolidation

- Initial recognition exceptions taken by the acquirer

- Unrealised profit and losses

- Undistributed profits

- Unutilsed tax losses of parent and subsidiary

Recognition of Deferred Tax Assets

Unused Tax Losses and Tax Credits

Others

- Deferred tax arising from compound financial instruments

- Presentation and disclosure requirements of current and deferred taxes

BENEFITS OF ATTENDING

Practical Issues: Acquire a good understanding of the concept of deferred taxation and the requirements of FRS12

Application: Apply the principles of deferred taxation in the computation of deferred tax by completing five practical questions

Implementation: Prepare financial statements disclosure for deferred taxation

TARGET AUDIENCE

Finance Directors/Managers, Accountants & individuals who need to understand the concept and techniques of computing deferred taxation

SPEAKER

Mr Sardool Singh is the Chief Financial Officer of a privately held investment holding company with investments in companies in Asia including Singapore, India, Indonesia and Vietnam and also United Kingdom. These companies are involved in various industries including healthcare, property, finance, high technology, bio-technology and agricultural activities.

Mr Singh was the Group Financial Controller of a Singapore listed healthcare company prior to his current engagement. During his ten years in the healthcare industry, he was responsible for the entire group financial functions and was responsible for the IPOs of two subsidiaries on SESDAQ. His other working experiences included three years with KPMG Peat Marwick and a year with a Japanese merchant bank.

Mr Singh is also a regular course leader for public seminars in the areas of Cash Flow Statements, Analysis of Financial Statements, Consolidation and other technical accounting topics for the Institute of Certified Public Accountants of Singapore.