Analysing Annual Financial Statements: Tax Pitfalls and Opportunities
Duration: 2 hours
Price: R195.00
Analysing Annual Financial Statements: Tax Pitfalls and Opportunities
Presenters : Johan Heydenrych
Overview
As a tax practitioner, why is it important for you to finetune your skills in interpreting Annual Financial Statements (“AFS”)?
Aside from assisting you in making informed decisions, understanding the intricacies of this vital document will guide you on:
- assessing the company’s financial health,
- ensuring tax and legislative compliance,
- providing audit support services and dispute resolution,
- and maintaining transparency and trust among stakeholders.
The above-mentioned insights enable the tax advisor to engage in value-added discussions with clients, identify opportunities for improved tax efficiencies and identify tax risks that can be pro-actively managed. This process is however complicated by International Financial Reporting Standards (“IFRS”) rules where "substance over form" takes precedence.
This video is designed to equip you to intelligently interrogate annual financial statements and reach appropriate conclusions promoting compliance with various tax laws including Income Tax, VAT, PAYE, STT, Dividend Tax, Royalty Tax and Interest Withholding Tax, all while keeping the complex IFRS rules in mind.
Video Content
Section A: Introduction and Overview
Section B: IFRS vs. Tax Laws
Section C: Practical examples of where things can go wrong
Section D: Review of a selection of published AFS
Section E: Concluding remarks
Competencies developed in this video
- The ability to interpret Annual Financial Statements with ease.
- Become fluent in AFS terminology and concepts, helping you to easily explain these to clients.
- A broader understanding of the elements that make up the AFS, such as the income statement, balance sheet, and cash flow statement.
- Critical thinking skills that assist you in problem-solving scenarios.
- Proficiency in multi-disciplinary tax technical skills.
- Improved ability to compare your client’s financial performance to industry standards and competitors, allowing you to advise on options available such as business rescue and audit support.
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