Tax Accounting - ATAX0117


	Faculty: Faculty of Law
	School: Australian School of Taxation
	Course Outline: See below
	Campus: ATAX Campus
	Career: Postgraduate
	Units of Credit: 6
	EFTSL: 0.125 (more info)
	Contact Hours per Week: 0
	Fee Band: 2 (more info)
	Further Information: See Class Timetable

Description

The primary focus of the course is upon issues of timing. Earlier courses have concerned themselves with the question of what constitutes taxable income. Tax Accounting Systems moves the analysis to issues that are concerned with when. When should income be brought to account? When are deductions to be taken? In other words, the emphasis shifts to the basic question of how we achieve a fair reflex of the gain for a particular period. This course is intended to provide a practical analysis of the area of tax accounting in its broadest sense, and therefore also covers trading stock, depreciation and the Simplified Tax System.

Recommended Prior Knowledge

ATAX0100 Principles of Australian Taxation Law
ATAX0105 Accounting 1
Or Equivalent

Course Objectives

At the completion of this course students will be able to:

differentiate between accounting profit and taxable income
explain the impacts of timing factors and of inflation on the measurement of income
identify alternative measurements of income and expenditure for the purposes of arriving at profit for accounting and taxation purposes
contrast the tax treatment of items of fixed and working capital with their accounting treatment
identify the advantages and disadvantages of the Simplified Tax System for small business taxpayers.

Modes of Delivery

Flexible Learning

Assessment

Assignment 1	2000 words	20%
Assignment 2	2000 words	20%
Final Examination	Open book	60%

Pass Requirements

50 per cent or more of the total marks available in the course and
at least 40 per cent of the marks available for the final examination in the course.