Management >> Costing Finance and Accounting
Accounting for Vat
MF143
Location
Duration
Date
Fee inclusive of VAT
Course Overview
With the expected introduction of a Value Added Tax (VAT) in the Arab countries, companies have to be prepared by upgrading the skills of their accounting staff to fully understand and properly account for the VAT. From invoicing to recording entries and preparing VAT return forms, this course provides an overview of the accounting treatment of the VAT according to the various type of goods and services. Additionally, we compiled from multiple sources the possible VAT treatments, challenges faced and questions to ask by industry, in order to help businesses in the Arab area understand the likely impact from adopting VAT on their operations and financial accounts.
Course Objective
- Explain how to account for VAT on purchase and sales of goods or services whether the entity is registered in VAT or not
- Use the company’s trial balance to fill up a VAT return
- Formulate a preliminary assessment of impact of VAT adoption on operations and accounts
Who Should Attend?
ِccountants, senior accountants, chief accountants, accounting managers, controllers, internal auditors, tax consultants, tax preparers and other professionals in the accounting and finance functions
Course Outline
- Accounting for VAT
- Issuing the VAT invoice
- What does a VAT invoice look like?
- Contents of an invoice
- VAT records and documentation to be maintained
- Accounting entries for VAT
- Local purchases of goods and services
- Purchases and sales of fixed asset
- Entities providing non-vatable activities
- Trial balance accounts needed to complete a VAT return
- Expected format of a VAT return
Training Methodology
- Presentation & Slides
- Audio Visual Aids
- Interactive Discussion
- Participatory Exercise
- Action Learning
- Class Activities
- Case Studies
- Workshops
- Simulation
Terms & Conditions
ACTrain reserves the right to alter the Course Schedule without Prior Notification, Fees Quoted are Subject to Terms & Conditions Outlined in ACTrain's Registration Policy
Upcoming Courses
Managerial Skills for Public Relations
Assure the importance of Managerial Skills for Public Relations Pract
Read moreBudgeting, Planning & Management Repor
Budgeting lies at the heart of business management, yet businesses of
Read moreTriangle of Excellence for Engineering
In today’s world middle and senior level Managers, engineers an
Read moreThe Art of Modern Communication Manage
Communication skills for managers are vital and most managers recogni
Read moreThe Art of Dealing with The Public Com
This art of dealing with the public communication skillstraining cour
Read morePurchasing Management and Cost Saving
The Link of the Purchasing Function with the Organization's Strat
Read moreFinancial Planning & Budgeting
In today's highly volatile environment, estimating future costs a
Read moreThe Vat Framework: Compliance, Impleme
This specially-designed VAT Framework training seminar examines the r
Read more