International Taxation Accounting of Investments & Funds - In house

Content Introduction to accounting, its concepts and the IFRS impact of tax accounting.

· Basic accounting principles and concepts as applied to investments and taxation entries.

· Double entry and Balance Sheet in an investment entity and how tax is applied.

Basic Accounting practices and terminology

· Application of GAAP and IAS to accounting for tax

· Basic investment transactions and the taxes that apply

Investment types and the impact of IAS32 on the Equity/ Liability equation

· Equity v Liability under IAS32

· Conversions and Amalgamations tax impact

· How derived income may be Capital and the resulting tax entries

Preparing a basic set of fund accounts

· Case study preparing a basic set of accounts and tax computation

· Distributions to investors and how they are taxed

· Tax shadows and the effects on structure

Corporate Actions including splits, conversions, rights and convertible

· Stock splits and mergers - the tax impact

· Conversion of stocks poolings and reserving

· Rights issues, bonuses and conversions the tax shadow implications

Recording Investment Activity with Euroshares, accumulations and reinvestments

· Shares without jurisdiction

· Accumulations and collective investments - the tax impact

Accounting for Equity to include rights, new shares and conversions, the impact of the new hedging rules

· Rights issues and conversions, employee schemes now to reserve for treatments

· Share classes and hedging of shares under IAS39 how tax applies

Accounting for Fixed Interest, accruals, accumulations and amortisation

· Interest treatments under IAS32 and the dove tail with the UK tax regime

· Holding Fixed Interest Assets, for sale, not for sale and tax reserving

· Amortisation and Discounted cash calculations including tax in the calculations

· Balloons discounts and zeros the tax complications

Accounting for investment income, the capital problem

· Substance v Form the importance in tax and accounts

· Capital Distributions accounting for these

Basic Derivatives – how these are taxed

· futures

· options

· standard currency futures

· interest swap including IAS 39

Valuation of investment, the impact of fair value and financial instruments open market value

· IAS32 Valuations and how tax reserving applies

· Fair Value – disappearance of mid value impact on year end valuation

· Bid Value of Investments and pricing tax impact Outline of Withholding Tax, Double Taxation treaties and Tax Reclamation