Thank you for watching this video. Become a VIP Member by Subscribing To My Channel goo.gl/Nw9WJU Check out these playlists also Accounting Standards Lectures ua-cam.com/play/PLr0o467TparV0dWblpCOnwN2oVHjmzpKx.html Management Accounting ua-cam.com/play/PLr0o467TparX-T2HRzbQHeL3GvdeQUjsQ.html Financial Management ua-cam.com/play/PLr0o467TparXJe7a9Kmh7XIkWCaFdRECO.html Public Sector Accounting and Finance ua-cam.com/play/PLr0o467TparUVByDsBSUzp4gz7FY-ZCiX.html Financial Reporting / Corporate Reporting ua-cam.com/play/PLr0o467TparV0dWblpCOnwN2oVHjmzpKx.html Strategic Case Study ua-cam.com/play/PLr0o467TparWm9hiAwhsmgzG1deg3ZjWk.html
hi i have another question... there is this question im solving which has given me the acc dep and the tax allowance but the part i dont understand is we should assume accounting profit to be 6000000 and also and assume the only difference for the tax purpose is an adjustment for the asset can u explain this concept to me....the first requirement is to ignore deferred tax and prepare the income statement....thank you
If you are given the Accounting profit, that's profit after depreciation. So, to get the Taxable Profit, you add back the depreciation and deduct the Tax allowance. You then express the tax rate of the balance to get the income tax for the year. Going, back to prepare the income statement, you take the Accounting profit and deduct the tax computed (following the above) and get the Profit after tax. Thank you
Nhyira thanks you are really helping me i do understand the standard very well this... my last question is is the closing deferred tax the same as the movement
Hi thanks for the video i didnt i understood when i was taught but this video has made me understand the standard very well.. But my question is about the tax ratio are we going to calculate it on the deferred tax liability or how.... Hope to get my response as soon as possible thank You..
@@NhyiraPremium ok so explained the tax treatment of non current assets . i wanted to find out the tax treatment of liabilities -(future outflow) hope i put it well
@@NhyiraPremium please sir the part 4 is not there. i will be very grateful if u can tell us the exact name for the video. it only part 1-3, no part 4. thank u
@@NhyiraPremium i have downloaded all 33 videos of ''''Accounting standards series"" and there is no video for the conclusion of the question or standard. Would be glad if you could upload,thanks
@@rudyayi3213 if that's not available, then it's not available for upload. You can enroll in the full course online and you can get access to all the lectures on our Study Portal Visit www.nhyirapremiumuniversity.com/courses
Hi Nhyira, nice tutorials but I guess the was some oversight somewhere. pls I would like you to clear my mind on certain issues. In your question u suggested the tax rate was 50%. But I didn't see the effect of that.
Thank you for watching this video.
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Check out these playlists also
Accounting Standards Lectures
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Management Accounting
ua-cam.com/play/PLr0o467TparX-T2HRzbQHeL3GvdeQUjsQ.html
Financial Management
ua-cam.com/play/PLr0o467TparXJe7a9Kmh7XIkWCaFdRECO.html
Public Sector Accounting and Finance
ua-cam.com/play/PLr0o467TparUVByDsBSUzp4gz7FY-ZCiX.html
Financial Reporting / Corporate Reporting
ua-cam.com/play/PLr0o467TparV0dWblpCOnwN2oVHjmzpKx.html
Strategic Case Study
ua-cam.com/play/PLr0o467TparWm9hiAwhsmgzG1deg3ZjWk.html
You are really trying to let students understand how it works instead of teaching how to answer a question! Legend!
I have battled IAS 12 especially deferred tax for years. Following your tutorials has made me get it all. Thanks
Welcome
is there part 4 of this lecture? the movement in deferred tax was not examined
Please the first question we solved ,thus Menz Plc the tax rate was 30% so why did you use 25%
hi i have another question... there is this question im solving which has given me the acc dep and the tax allowance but the part i dont understand is we should assume accounting profit to be 6000000 and also and assume the only difference for the tax purpose is an adjustment for the asset can u explain this concept to me....the first requirement is to ignore deferred tax and prepare the income statement....thank you
If you are given the Accounting profit, that's profit after depreciation. So, to get the Taxable Profit, you add back the depreciation and deduct the Tax allowance. You then express the tax rate of the balance to get the income tax for the year.
Going, back to prepare the income statement, you take the Accounting profit and deduct the tax computed (following the above) and get the Profit after tax.
Thank you
@@NhyiraPremium thanks
Nhyira thanks you are really helping me i do understand the standard very well this... my last question is is the closing deferred tax the same as the movement
No. Movement is the difference between the opening and closing
Sir, isn't the income tax rate 30%?? Coz it seems in the Menz Plc question, you wrote 25% instead 30% or??🤔
By the way this video was great! It has answered most of my doubts in IAS 12. Thank you Sar✊
The video ended before the Movement in deferred tax, Is there a part 4 for Income Tax?
Please check the playlist. Everything is available
@@NhyiraPremium Sir I confirm there are no video which complete the question and hence have the answer
Hi thanks for the video i didnt i understood when i was taught but this video has made me understand the standard very well.. But my question is about the tax ratio are we going to calculate it on the deferred tax liability or how.... Hope to get my response as soon as possible thank You..
Tax ratio?
Ok thanks
great video sir, how do we treat deferred tax of a provision, or income received in advance ? thanks
Can you clarify your question? I don't get the question. Thank you
@@NhyiraPremium ok so explained the tax treatment of non current assets . i wanted to find out the tax treatment of liabilities -(future outflow) hope i put it well
Alright, I will make a video available on this
Plz where is part 4 because it not complete
Have you checked the playlist titled Accounting Standards series? It should be available there
Good explanation. Is there part 4
Please check the playlist "Accounting Standards ". Thank you
@@NhyiraPremium please sir the part 4 is not there. i will be very grateful if u can tell us the exact name for the video. it only part 1-3, no part 4. thank u
is there a part 4 ?
Please check the playlist titled "Accounting Standards Series" for all the videos on Standards
@@NhyiraPremium i have downloaded all 33 videos of ''''Accounting standards series"" and there is no video for the conclusion of the question or standard. Would be glad if you could upload,thanks
@@rudyayi3213 if that's not available, then it's not available for upload. You can enroll in the full course online and you can get access to all the lectures on our Study Portal
Visit
www.nhyirapremiumuniversity.com/courses
Hi Nhyira, nice tutorials but I guess the was some oversight somewhere. pls I would like you to clear my mind on certain issues. In your question u suggested the tax rate was 50%. But I didn't see the effect of that.
Hello James, the 50% should have been used to multiply the Temporary Difference to get the deferred tax figure. Yes, that's an oversight. Thank you
you are welcome, sir.
Awesome 😊😊😊😊
Thanks James, I almost got confused by the multiplication of 25% instead of 50%
Also, Nyhira, ur videos are excellent, keep up the good work. 👍
You couldn't complete the workings