CITN Developments in International Financial Reporting Standards and the Tax Implications- Prof Godwin Oyedokun.pptx

Developments in International Financial Reporting Standards and the Tax Implications

Being a Paper Presented at the CITN-Dangote Group Mandatory Professional Training Programme on Tuesday 15th and Wednesday 16th of November, 2022.

1. Developments in International Financial Reporting Standards and the Tax Implications Being a Paper Presented at the CITN-Dangote Group Mandatory Professional Training Programme on Tuesday 15th and Wednesday 16th of November, 2022.

2. ND (Fin), HND (Acct.), BSc. (Acct. Ed), BSc (Fin.), BSc. (Bus. Admin), MBA (Acct. & Fin.), MSc. (Acct.), MSc. (Bus & Econs ), MSc (Tax), MTP (SA), PhD (Acct), PhD (Fin), PhD (FA), FCA, FCTI, FCIB, ACS, ACIS, MNIM, FCNA, FCFIP, FCE, FERP, CICA, CFA, CFE, CIPFA, CPFA, ACAMS, ABR, CertIFR , IPA, IFA, FFAR, FPD-CR, FSEAN, FNIOAM, ACIrb

3. Developments in International Financial Reporting Standards and the Tax Implications

4. Introduction

5. Introduction

6. International Financial Reporting Standards (IFRS)

7. International Financial Reporting Standards (IFRS)

8. International Financial Reporting Standards (IFRS)

9. Basic Principles in IFRS

10. Convergence Process of IFRS

11. Convergence Process of IFRS

12. Convergence Process of IFRS

13. The Tax Systems and their Normative

14. Objectives of tax systems and their regulations

15. Basic Principles of Taxation

16. The Income Tax

17. IFRS and Tax Regulations: Main Differences

18. IFRS and Tax Regulations: Main Differences

19. IFRS and Tax Regulations: Main Differences

20. Differences between Principles and Rules

21. Development in International Financial Reporting Standards and the Tax Implications

22. IAS 39 vs IFRS 9: Classification and Measurement

23. IAS 39 vs IFRS 9: Classification and Measurement

24. Impairment Methodology

25. Impairment Methodology

26. Impairment Methodology

27. Tax Implication of IFRS 9 and the Implication to the Financial Industry

28. Deductibility of Impairment Loss

29. Deductibility of Impairment Loss

30. Deferred Tax Implication

31. Taxability of Fair Value Gain/Loss on FVTPL Assets

32. Tax implications of IFRS 9 implementation for Nigerian entities

33. Tax Deductibility of Impairment Losses

34. Tax Deductibility of Impairment Losses

35. Tax Deductibility of Impairment Losses

36. Tax Treatment of Financial Instruments at Fair Value Through Profit or Loss

37. Tax Treatment of Financial Instruments at Fair Value Through Profit or Loss

38. Conclusion

39. Conclusion

40. Recommendations