Course Description
Welcome to this course on Accounting for Deferred Taxes Are you an
Accounting / Finance / Auditing Student? Are you a Banker /
Financial or Project Consultant? Are you coming across Deferred
Taxes often in Financial Statements as well as in your discussions but
couldnt get a grip on the basics of it? Then, this course is for
you! This course teaches you the basics and rationale behind the
concept of Deferred Tax. Yes! Deferred Tax concept has sound
rationale and its accounting is very important for getting clear picture
of financial performance and position of any business entity. But
many of us doesnot appreciate the intent of that tax accounting and tend
to ignore it in view of the complexity in the computation as well as in
the interpretation part. Generally, business entities will be
arriving at their profits by following generally accepted accounting
practices. But tax authorities will have their own rules and regulations
and they will arrive at profits of business entities in a different
way. Hence, Tax liability for a business entity is a result of various
adjustments based on the tax law. This may result in postponing tax
liabilities some times which will result in sizeable profits in that
year but in the later years when this postponed liability is caught, it
would affect the liquidity of the business. Hence, to avoid all these
mishaps, deferred tax accounting is practised. This course tries
to clear the above by providing lectures on each and every concept like
a) What is Tax b) Why Deferred Tax should be accounted c) What
is the Generally Accepted Accounting Procedures for Deferred Tax d)
What are the basic terms associated with Deferred Tax e) What is the
difference between Accounting Income and Taxable Income f) What is
the impact of Timing Differences g) What are Deferred Tax Asset and
Liability h) What are Reasonable Certainty and Virtual Certainty
I) How to recognise Deferred Tax in Financial Statements. This
course uses terms and terminologies related with Accounts and Tax.
Hence, it is important that you should have basic knowledge on Accounts
and Financial Statements. This course has 10 Video lectures
explaining the concepts and ends with example lecture. This course is
structured in self paced learning style. If you want to know the
basics of deferred tax accounting, then you are in right place.
Course Details
Section: 2 Deferred Tax and Difference
1. Introduction
10. Deferred Tax Example
11. Bonus Lecture - Discount Coupon Links for other Courses
2. Matching Concept and Deferred Tax
3. Generally Accepted Accounting Practices for Tax Accounting
4. Basic Terms Explained
5. Accounting Income and Taxable Income
6. Impact of Differences
7. Deferred Tax Assets and Liabilities
8. Reasonable and Virtual Certainity
9. Recognition of Deferred Tax
Section: 1 Introduction
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