Accounting for Deferred Tax under UK GAAP

Objectives

To understand the key principles in accounting for deferred tax under FRS 102 along with understanding the relationship between deferred tax and the tax reconciliation note in the financial statements (where required).

Key topics

• The concept of deferred tax and the impact on the financial statements
• Accounting for deferred tax in common areas, e.g. property, plant and equipment
• Timing differences vs permanent differences
• Accounting for changes in the tax rate
• The relationship with the tax reconciliation note
• Recognition principles of deferred tax assets
• An overview of the presentations and disclosure requirements in the financial statements

Who should attend

All levels of staff in practice involved in preparing or auditing financial statements prepared under UK GAAP.