Short Course in Current and Deferred Tax

Ever felt overwhelmed by the complexities of tax jargon, such as deferred tax in financial statements?

International Accounting Standard 12 (IAS 12) provides guidance on accounting for income taxes, including current tax assets and liabilities, under and over provisions, and deferred tax assets and liabilities. This short course covers the foundational knowledge to calculate current and deferred tax and ensuring proper classification and disclosure in the financial statements.

Mode of delivery

This Short Course will be presented on The Tax Faculty’s online learning Campus. Refresh your foundational knowledge anytime from anywhere!

Duration and effort

This Short Course will be available to learners to complete at their own time and pace.

  • Video hours: 6 hours
  • Approx Reading hours: 45 hours
  • Recommend Length to complete: 12 weeks

What you will learn in this course

The following modules will be covered:

  1. Accounting for current income tax.
  2. Deferred tax.
  3. Disclosure in the financial statements.

Outcomes:

  • Understand the concept of deferred taxes and current taxes.
  • Define whether a deferred tax asset or a deferred tax liability arose.
  • Calculate and reconcile current and deferred tax.
  • Prepare and review tax-related disclosures in the financial statements as per IAS12.

Admission requirements

  • A solid understanding of Corporate Income Tax and Financial Accounting.
  • A foundational understanding of international financial reporting standards.
  • Laptop/PC with high-speed internet access.

This course is for you if you are a:

  • Accountants.
  • Tax practitioners.
  • Trainee accountants.
  • Business Owners.

Accreditation

This course is presented as a short learning programme (SLP) by The Tax Faculty (TTF). TTF is recognised as a continuous professional development (CPD) provider by controlling bodies accredited in terms of the Tax Administration Act, 2011 (Act No 28 of 2011), and holds accreditation with the Quality Council for Trades and Occupations (QCTO) as a skills development partner (SDP) under the Skills Development Act, 1998 (Act No 97 of 1998).

Assessment and award of certificate

Learners will be self-assessed via a number of practical assignments and a final integrated assessment. Successful learners will receive a SLP certificate of competence issued by The Tax Faculty. In addition, this just-in-time learning programme also qualifies for verifiable Tax CPD.

Course fee

Once-off payment

Once off immediate payment to gain access to the course in total of: R3 950.00.

*No flexibible payment plans available on this course.

Payments and cancellations

  • All required minimum payments must be made by direct EFT or by credit card before the commencement of a course. The once-off payment is required to be paid in order to gain access to start the course. 
  • Kindly note that should payment terms not be adhered to; legal action will be taken and access to the online learning platform suspended.
  • Proof of payment will be requested before access to the online platform will be communicated, should your payment not reflect on The Tax Faculty’s bank account.
  • Only written notice of cancellation will be accepted.

Conditions

For all short learning programmes (SLPs) with a seven-month or less rollout period, the following will apply:

  • If the cancellation is requested more than 10 working days prior to the course release date, no cancellation fee will be applicable.
  • If the cancellation occurs less than 10 working days prior to the course release date, a 100% cancellation fee will be applicable.
  • Students who register for a course and fail to attend will be held liable for the full course fee.
  • The Tax Faculty’s liability in the case of a course being cancelled will be limited to a refund of the course fee.
  • Students who have failed to successfully complete the course, and wishing to repeat will be charged the full course fee to repeat.

Why wait?

Are you interested in analysing tax risks in the Financial Statements and advising clients accordingly? Progress to the Professional Certificate in Accounting for Tax in Financial Statements.

Skill Level: Beginner