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Tax Effect Accounting under IFRS

Published on 26 Oct 2005 | Took place at Hilton Hotel, Brisbane, QLD

Australian entities are required to present their financial reports in accordance with accounting standards that comply with International Financial Reporting Standards (IFRS) for reporting periods beginning on or after 1 January 2005. This seminar examined Australia's new IFRS compliant tax effect accounting standard - AASB 112.

This practical workshop stepped through the concepts and processes that you should be applying to your clients or business.

Individual sessions

Tax effect accounting under IFRS

Author(s):  Murray GRAHAM,  Michael CHANG

Australian entities are required to present their financial reports in accordance with accounting standards that comply with International Financial Reporting Standards (IFRS) for reporting periods beginning on or after 1 January 2005. This paper examines Australia's new IFRS compliant tax effect accounting standard – AASB 112.

This paper steps through the concepts and processes that you should be applying to your clients or business and to allow you to:

  • learn the key requirements of AASB 112 - Accounting for income taxes
  • understand the impact that adoption of the standard will have
  • apply the standard, prepare a tax balance sheet and formulate the necessary journal entries.
Materials from this session: