Track 11 · Intermediate
Tax Accounting and Regional Practice
Tax accounting basics, VAT mechanics, taxable, zero-rated and exempt supplies, current and deferred tax, tax rate reconciliations and international differences in tax treatment.
Tax and Zakat rules vary by jurisdiction and change over time. These lessons teach the accounting concepts with illustrative figures; they are not tax advice.
- Lessons
- 6
- Exercises
- 37
- Time
- 2 h 50 min
Module 1
Tax accounting basics
- 01
How taxes appear in the accounts
Distinguish taxes collected for the government from taxes on profit.
Journal entries · Calculations · Classification · Equation analysis
Members25 min - 02
VAT: input and output tax
Record sales and purchases with VAT and compute the amount payable to the tax authority.
Journal entries · Worksheets · Calculations · Simulator
Members30 min - 03
Taxable, zero-rated and exempt supplies
Explain how each category affects output VAT and input VAT recovery.
Journal entries · Worksheets · Calculations · Classification · Simulator
Members30 min - 04
Current and deferred tax
Record current tax expense and introduce deferred tax.
Journal entries · Worksheets · Calculations · Classification · Simulator · IAS 12
Members35 min - 05
The tax rate reconciliation
Reconcile tax expense to profit multiplied by the statutory rate.
Worksheets · Calculations · Classification · Simulator · IAS 12.81(c)
Members25 min
Module 2