It is crucial for any accountant or auditor to understand the differences between the accounting and tax treatment of capital assets. Not only might the deductions for tax differ from the accounting depreciation, but upon disposal of these assets, careful consideration needs to be given to how one will reconcile the accounting entries with the tax effect.

This course is the last step in this series, and aims to enable accountants and auditors to accurately distinguish between the accounting and tax treatment of capital assets.

Course Content:

• The accounting treatment of capital assets:

• Recognition as an asset
• Depreciation
• Profit or loss upon disposal
• The tax treatment of capital assets:
  • The valuation thereof for tax purposes
  • The claiming of allowances
  • Recoupments, gains or losses upon disposal

• The deferred tax implications of certain capital assets, including leases
• The importance of a wear and tear schedule used for internal calculations, and how to structure such a schedule
• This course will not be a technical IFRS course, nor will it be an in-depth course of all the tax technical matters related to capital assets – the basic working principles will be incorporated.

This session will be greatly beneficial to all taxpayers (individuals, trusts or companies) with capital assets, as well as the tax or other professionals managing their tax affairs.

All Included:

• Video presented course
• Downloadable course material
• Certificate of training
• SAICA, SAIBA, ACCA, IACSA, IRBA, SAIT Accredited - 2 verifiable CPD hours