International Taxation Accounting of Investments & Funds
This course is a good solid introduction to the Accounting for Taxation of Investments and Investment Funds. It gives a thorough grounding in the basics of investments and is targeted specifically at those requiring a complete knowledge of the field of accounting for tax on an international basis.
The course is an accounting course and not a technical tax course and is aimed at those who need to know how tax entries are applied in accounts. It is also an overview of how tax applies and when tax entries are needed. It also discusses reserving and the IAS implications of tax accounting including deferred tax calculations.
The course is based on practical examples leading to a complete investment portfolio situation.
Delegates are assumed to have at least one year’s Investment Accounting experience and at least 6 months exposure to the Taxation of Investments.
Introduction to accounting, its concepts and the IFRS impact of tax accounting.
-Basic accounting principles and concepts as applied to investments as applied to taxation entries.
Basic Accounting practices and terminology
-Application of GAAP and IAS to accounting for tax
Investment types and the impact of IAS32 on the Equity/ Liability equation
-Equity v Liability under IAS32
Preparing a basic set of fund accounts
-Case study preparing a basic set of accounts and tax computation
Corporate Actions including splits, conversions, rights and convertibles
-Stock splits and mergers - the tax impact
Recording Investment Activity with Euroshares, accumulations and reinvestments
-Shares without jurisdiction
Accounting for Equity to include rights, new shares and conversions, the impact of the new hedging rules
-Rights issues and conversions, employee schemes now to reserve for treatments
Accounting for Fixed Interest, accruals, accumulations and amortisation
-Interest treatments under IAS32 and the dove tail with the
Accounting for investment income, the capital problem
-Substance v Form the importance in tax and accounts
Basic Derivatives – how these are taxed
Valuation of investment, the impact of fair value and financial instruments open market value
-IAS32 Valuations and how tax reserving applies
Outline of Withholding Tax, Double Taxation treaties and Tax Reclamation
Investment Education PLC