What about capital allowances, Annual investment allowance, first year allowances, etc.
Not everything that is an allowable expense for accounting purposes is an allowable expense for taxation purposes. For example, depreciation.
just checked your earlier posts and it's less than six months since you started down this path where producing accounts will take you several years to prepare yourself for.
For guidance try reading the Kaplan ACCA study texts for F6 (Taxation) and F7 (Financial Reporting) which is basically the entry level of where people should be preparing accounts regardless of the professional body that one is attached to.
For F7 you can use any post 2011 text but for taxation it has to be the latest version.
Once you have done the study texts do some of the freely available old exam papers and/or purchase the Kaplan revision kits and work through them.
Once you can do that you should be in a position to prepare accounts regardless of the professional body that you are practicing under.
kind regards,
Shaun.
p.s. amended as the first post lost the end of my message.
p.s.2 F6 and F7 are only foundation skills level papers. Don't worry too much about them having the ACCA in their titles. They are quite straght forwards. Dark side ACCA comes with the P prefixed papers.
-- Edited by Shamus on Thursday 28th of May 2015 02:26:55 PM
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
