Viewers are advised to ascertain the correct positionprevailing law before relying upon any document.It is advised that for filing of returns the exact calculation may be made as per the provisions contained in the relevant Acts, Rules etc.
I do like the story, it is so inspirational and motivational especially to us who are Freshers in the profession. For me, it seemed like a bunch of numbers and percentages that never add up and the magic table never gets balanced. Sure, if not interested, then skip it and go straight to theory and example below. She literally loved some audit assistants and praised them a lot and on the other hand, she could really dislike the other assistants and make their lives difficult. If you take action today and subscribe to the IFRS Kit, youll get it at discount Click here to check it out. I had to attend the inventory count in the cold freezing midnight of the New Years Eve (no dancing and having fun that year). And yes, you guessed it I had to check the clients tax reconciliation and propose corrections. I worked so hard to understand the tax reconciliation and to make it right for the client, but after the whole night staring at the worksheets, it was done to the big surprise and dislike of Jess. Yes, that was not her main intention, but in this case, it was better to get as many benefits out of this situation, instead of giving up. In other words, you need to add them back for the purpose of your tax calculation. The examples are expenses for lunch with potential clients (in most countries), excessive petrol consumption, etc. Accounting depreciation included in operating costs is CU 85 000. Cost of property, plant and equipment is CU 800 000 EUR and ClumsyTax deducted depreciation expenses of CU 208 000 in its tax returns prior the year 20X5. Product warranty costs are not tax deductible until the company pays claims. Claims paid in 20X5 amounted to CU 3 100. Its much better for understanding how the temporary differences reverse. Your insight continues to inspire, and we are opportuned to drink from your fountain of pratical knowledge. You have this uncanny knack for making the Extremely complicated simple. ![]() Can you please guide regarding the treatment of that part that is rented, I refer to the investment properties standard that the asset should be separated and reported as investment property but in our case the asset is partially rented. I guess split should be based on the FV for each part of the building, right. Although I was able to workout the tax liabilities for my company but was not confident enough with the process followed. On going through this article, now I am confident to handle the subject. I with my colleagues would like to thank you for your great effort in enhancing our accounting concepts.
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