Unit Code: CPE112
TPB-compliant CPE: Yes
Structured CPE Hours: 2 hours
Enrolment term: 90 days
Price: $110.00, including GST.

Overview: This course provides a foundational view of Tax Effect Accounting (TEA) in Australia. Tax Effect Accounting is a crucial aspect of financial reporting that deals with the timing differences between accounting profit and taxable profit. The course focuses on understanding the principles of TEA, the role of deferred tax assets and liabilities, and the interaction between Australian Accounting Standards and the Australian tax system.

Whether you are a BAS practitioner, small business owner, or financial professional, this learning is designed to equip you with a thorough understanding of Tax Effect Accounting and provide you with the knowledge and tools needed to navigate this area confidently.

By the end of this course, you will have developed a comprehensive understanding of the following key areas:

1. Understand the conceptual framework of Tax Effect Accounting
2. Analyse the differences between accounting profit and taxable profit
3. Apply Australian Accounting Standard AASB 112 "Income Taxes" to calculate deferred tax
4. Determine deferred tax assets and liabilities
5. Comprehend the implications of tax losses and tax consolidation on financial statements
6. Identify disclosure requirements in financial statements for tax purposes
7. Discuss the relationship between taxation law and accounting standards in Australia.

On successful completion, you will be awarded a Statement of Achievement from My CPE.

Important Information:
Resources: Internet, computer and your time!
Duration: 2 hours
Mode of Delivery: Online

Pass Mark: 80% pass mark overall

Assessment Attempts: Two (2).