TAX ACCOUNTING FOR
WHOLESALER, DEALER AND
DISTRIBUTOR OF COMMERCIAL
AND CONSUMER GOODS.
December 11-13, 2013
RCBC 5TH FLR. LA SALLE CAMPUS MAKATI CITY | 2-5PM
Tax Accounting for VAT-registered Retailer, Wholesaler, Dealer and Distributor of commercial and consumer goods
Many taxpayers confirmed that the use of GAAP (now known as PFRS) created more tax troubles, penalties and problems to them.
Recently, The National Society of Accountants in the United States of America says, “The cost of preparing generally-accepted-accounting-principles-based financial statements is EXCESSIVE and in many casesUNNECESSARY. Translating tax return information into a financial statement format can be a COST EFFECTIVE strategy.” which means that YOU DON'T NEED TO USE AND/OR BE MANIPULATED/FORCED TO USE THE GAAP/PFRS.
The Bureau of Internal Revenue's position between GAAP and TAX ACCOUNTING can be deciphered from "The recording and recognition of business transactions for financial accounting purposes, in a majority of situations, differ from the application of tax rules on the same transactions resulting to disparity of reports for financial accounting vis-a-vis tax accounting (RR 8-2007). In case of differences, the provisions of the Tax (accounting) Code shall prevail (RMC 22-2004). Therefore, it is the financial statements which is in conformity with the Tax Code that should be attached in the filing of Income Tax Return (BIR Ruling No. M-111-2006)."
Tax Accounting has three (3) layers, namely, the value added tax accounting, the withholding tax accounting and the income tax accounting. All of them shall comprehensively tackle the three (3) important requirements of the Tax Code which the BIR expects you to be knowledgable of. They are document accounting, book-entry making and timely-and-correct report-filing.
WHO MUST ATTEND?
Businesspeople, taxpayers, government officials, CPAs, lawyers, bookkeepers, accountants, managers and people who have already been encountering tax problems and troubles related to the commonly used and perceived generally accepted accounting must immediately register and actually attend this event
TAX ACCOUNTING COURSE CONTENT DESCRIPTION
-distinction and supremacy
-methods and periods
-process and synthesis
-substantiation and documentation
-types and heading components of books of accounts
-source, level and type of book-entries
-statements, schedules and returns
Manila ..437-4027 , 439 3918 or 921 6107
Text ..0998 979 3922 or 0922 801 0922