Accounting Standards and Tax Adjustments

Programme Overview

• Acquire essential knowledge on the differences between principles of accounting and tax.

• Identify discrepancy in financial accounting and tax principles and their implications on computation of taxable income.

Admission Requirements

• Programme is recommended for participants with basic knowledge on the principles of accounts or has accounting background.

Programme Details

Topics

Main principle 

• Deviation of accounting principles and tax principles  

Revenue Recognition 

• Differences in revenue recognition between tax and accounting principles, including Interest income, income of property developers. 

Discussion on FRS 115 on Revenue from contracts with customers and its implications on tax computations 

• S10 Definition 

• Interest Income in Accounting 

• Pinetree’s case – initiation deposits – characterization of transactions 

Expense Recognition 

• Interest expense and capitalization 

• Impairment of debts - FRS 109 vs s14(1)(d) 

• Provision accounts  

Property, Plant and Equipment 

• Property, Plant and Equipment for tax purposes 

• Cost of plant and machinery in accounting and tax 

• Amount claimed for capital allowance purposes 

Discussion on FRS 116 on Lessee’s leases and its implications on tax computations 

Course Fees

$392.40 (inclusive of GST) 

Fees include softcopy webinar slides. 

NOTE: Please ensure that you have read and understood the Terms and Conditions for courses before you register.