14 October 2008
The Holiday Inn The Atrium
A practical workshop to help you get a grip on FRS 12 Revised
Deferred tax has never been an accountant’s favourite subject – the combination of unusual terminology and the concepts of tax can leave those trying to account for deferred tax feeling confused and frustrated. Even though 2001 was the first year requiring the application of the balance sheet approach to deferred tax calculation, accountants are still struggling with the practical application of the method. Understanding Deferred Tax is a practical solution to this problem.
The practical methodology used in the Workshop provides a constructive environment in which participants will:
- Tackle case studies and scenarios requiring the application of FRS 12.
- Discuss their key issues on deferred tax in small work groups with the guidance of expert facilitator.
Workshop Objectives
By the end of the workshop participants will:
- Have a clear and comprehensive understanding of the concept of deferred tax and its application
- Be equipped with the necessary skills to calculate deferred tax balances under FRS 12
- Be aware of the exceptions and more advanced issues regarding deferred tax
- Understand some of the special considerations when applying FRS 12.
- Have analysed and discussed complex deferred tax scenarios from case studies and identified possible solutions
Workshop Outline
Deferred Tax Refresher
- Understanding deferred tax
- Temporary differences
- Deferred tax assets and liabilities
FRS 12
- Understanding the “balance sheet approach” to calculating deferred tax
- Determining the “tax base” of assets and liabilities in calculating “temporary differences”
- An easy 4-Step Approach for determining deferred tax under FRS 12
Issues
- Applicable Tax rate
- Revaluation of fixed assets
- Acquisition of investment at fair value
- Investments in subsidiaries
- Initial recognition of Deferred Tax Assets and Liabilities
- Exceptions
- Disclosures required under FRS 12
- FRS 12 in an international context
- Expected changes
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Who should attend
- Finance staff of all levels who need to understand and be able to calculate deferred tax
- Auditors and individuals interested in the contents of FRS 12
- Anyone who wants to clarify once and for all their understanding of the concepts and the application of deferred tax
Date & Time
14 October 2008
9.00 am to 5.00 pm
Fees
S$600 - Clients of PricewaterhouseCoopers/Alumni
S$650 - Public
All fees include 7% GST, lunch, refreshments and seminar kit.
More information about the seminar, including registration details, is available in the flyer > 
