Description

COURSE OUTLINE

1. Overview of Philippine Income Tax

• Income tax
• Business tax
• Withholding tax

2. Overview of Financial Accounting

• PFRS
• PFRS for SME

3. Differences between Accounting and Taxation

• Borrowing costs
• Foreign exchange gains and losses
• Investment properties
• Depreciation and amortization
• Impairment losses
• Unrealized gains and losses
• Retirement benefit expense
• Revenue from the sale of real estate
• Leases
• Biological assets
• Research and development costs
• Organizational costs
• Fines and penalties
• Accounting changes and correction of errors

4. The concept of deferred tax accounting

• Importance
• Components of income tax expense
• Temporary differences
• Excess MCIT
• Net operating loss carryover

5. Accounting for business taxes

• VAT
• Other percentage taxes

(Inclusive of seminar kit, certificates and am snacks, lunch and pm snacks)