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Accounting for Deferred Taxation : A Practical Programme on FRS 12

Expert Speaker Michél Herrmann

$430.00 (including GST)

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Overview 

This programme is part of the Professional Skills Series, designed specifically to provide Accountants and Auditors an overview on the recognition, measurement and presentation of deferred tax. You will learn how to identify and measure temporary difference for tax residents under pioneer and DEI status. You will be also be introduced to deferred tax issues on share-based payments, investment properties and business combinations. Practical examples will be used to illustrate the highly complex area of uncertain tax positions under FRS.

Programme Outline   

  • Overview of FRS 12 Income Tax
    • Recognition of Deferred Taxes
    • Step by Step approach
    • Temporary vs. Permanent Differences
    • Tax Base vs. Book Base
    • Tax rate
  • Deferred Taxes on complex issues
    • Tax holidays (Pioneer & DEI Status)
    • Investment Property
    • Share-based payments
    • Business Combinations
    • Fair value adjustments
    • Initial recognition difference
    • Tax losses of acquire
  • Uncertain tax Positions under FRS
    • Concept and Recognition criteria
    • Measurement of uncertain tax positions
    • Presentation of uncertain tax positions
  •  Exposure draft on Income tax FRS 12 (R) : Looking Ahead
    • Key changes in recognition and measurement of deferred taxes
    • Executive summary

This workshop qualifies for 7.0 CPE hours in Financial Reporting Standards and Pronouncements (Category 1).

Expert Speaker

Michél Herrmann

WP, StB, CPA (US), CA (Singapore)

Michél is a Managing Director of Herrmann Consulting PAC, and has over 13 years of experience in financial reporting and accounting advisory. He had worked for PwC (PricewaterhouseCoopers) in Europe and Singapore where he was in charge of the accounting advisory business. He was involved in various assignments including tax planning, SFRS/IFRS conversions projects, technical accounting advisory, IPOs, SEC filings and due diligences across a wide variety of clients. He was also the lead accounting advisor on IPOs and M&A activities for Singapore and US-based clients. Michél is a regular speaker in financial conferences and seminars, and since 2010 a Professor for “Advanced Accounting and Auditing” at the University of Friedrichshafen (Germany). He has co-authored several publications on international accounting. Michél has an MBA from the University of Mannheim, and is certified as a German CPA, German Tax Advisor, US CPA and CA of Singapore.

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