Published on 26 Oct 05
by QUEENSLAND DIVISION, THE TAX INSTITUTE
Australian entities are required to present their financial reports in accordance with accounting standards that comply with International Financial Reporting Standards (IFRS) for reporting periods beginning on or after 1 January 2005. This paper examines Australia's new IFRS compliant tax effect accounting standard – AASB 112.
This paper steps through the concepts and processes that you should be applying to your clients or business and to allow you to:
- learn the key requirements of AASB 112 - Accounting for income taxes
- understand the impact that adoption of the standard will have
- apply the standard, prepare a tax balance sheet and formulate the necessary journal entries.
Murray has over 20 years
experience advising business on domestic and international
income tax issues. He holds a Bachelor of Commerce degree
from The University of Queensland and is a Fellow of the Institute
of Chartered Accountants in Australia. His extensive client base
includes publicly listed companies whose own in-house tax function
requires specialist taxation assistance, organisations that outsource
the servicing of their taxation requirements, smaller accounting firms
and their clients. His extensive experience in a variety of industries
provides his clients with the benefits of commercial acumen when
consulting on taxation issues.
- Current at
11 March 2014
Michael Chang FTIA is an Executive Director with Ernst & Young, Brisbane with over 10 years’ taxation
experience. During his career Michael has worked in various areas of corporate and international taxation
in Australia. More recently, Michael has devoted his time to Australian corporate tax matters and advising
Australian publicly listed entities and subsidiaries of multinational companies in respect of a range of
Australian corporate income tax matters associated with M&A transactions and ongoing issues.
- Current at
17 September 2012