Tax accounting

Syllabus

1. Accounting and tax obligations of entrepreneurs, natural and legal persons when starting a business. Analysis of the possibilities of proving and applying expenses of natural persons for the needs of determining the income tax base (bookkeeping, tax records, determining the amount of expenses as a percentage of taxable income). Tax characteristics, basic concepts, tax classification. Slovak tax system. 2. System of simple accounting - subject, peculiarities, legal regulation. Simple accounting system - accounting books. Accounting methodology in cash journal and other accounting books. 3. Assets and liabilities of a natural person entrepreneur: long-term tangible assets, long-term intangible assets, inventories, long-term financial assets, short-term financial assets, receivables and liabilities - valuation, accounting and reporting in simple accounting. Financial statements in the system of simple accounting. Work procedure for compiling financial statements in the system of simple accounting. Personal income tax declaration (Type A, Type B). 4. Income tax FO - subject of tax, tax base, partial tax bases, special tax base. Income from business, other self - employed activity, rent and use of work and artistic performance. 5. Income tax FO - income from dependent activity, income from dependent activity, which is not subject to tax, income from dependent activity exempt from tax. Non - taxable parts of the tax base. 6. Income tax FO - special tax base on capital assets, other income, income exempt from tax. Tax base, tax rate. 7. Accounting presentation and tax deductibility of expenses / costs due to depreciation of tangible and intangible fixed assets. Depreciation interruption options. 8. Accounting presentation and tax deductibility of expenses / costs for consumed fuels, travel allowances, meals for employees, etc. 9. Accounting presentation and tax deductibility of costs included in the tax base only after payment. 10. General provisions on the determination of the tax base. Items adjusting the profit or loss or the difference between revenue and expenditure. 11. Compilation of a corporate income tax declaration. 12. Property taxes. Obligations of the entrepreneur FO at the change of the accounting system and at the end of the business. 13. Summary example of bookkeeping and compilation of income tax declaration. Final review and summary.