Participants

The participant should have work experience and knowledge in the field of accounting or finances (testing for determining the level of professional knowledge), or attended training: Practical accounting and tax legislation - basic course.

Time frame

Total duration of the training: 50 hours of instruction and 20 hours of project work.
Schedule: Saturday, classes from 10.00 to 15.30 hours (8 days) and 20 hours working on projects at home.

Training program Read more 

Recording events on the basis of assets, liabilities, revenues, expenditures, and capital, preparing a final calculation for two pilot companies.

Based on documents for the companies with a predominant activity: construction and production: statements, invoices and outgoing invoices, contracts, situations, accounts receivables, travel orders, fiscal reports, travel orders, manager's decisions, census report, and others, the trainee prepares:

• bookkeeping orders, in accordance with the criteria for presenting and measuring assets, liabilities, revenues and expenditures under IAS and IFRS;
• VAT calculation;
• calculation and recording of the retained income tax paid to foreign legal entities;
• calculation of personal income tax on various grounds;
• reconciliation of the actual situation after the inventory with the accounting records;
• calculation of exchange rate differences;
• depreciation calculation;
• time delineations and long-term reservations;
• alignment of the analytical record with the general ledger;
• control of the balances of assets, liabilities, revenues, expenditures and capital;
• closing of classes 4 and 7, determining and allocating the result of the operation - pre-tax profit;
• determining the basis for calculating the income tax (unrecognized expenses and less stated revenues);
• determining profits for the current year;
• preparation of Financial Statement (balance sheet), Profit or loss Statement (income statement), Statement of other comprehensive income; preparing forms for competent institutions (DB, DB-HR, PDD-GI, DD-ID).

Processed topics related to the Law on Value Added Tax

• Tax treatment of representative givings;
• Tax treatment of discounts and sales at lower prices;
• Tax treatment of the results after the census;
• Filling in field 27 of the VAT application;
• Tax amounts owed according to Article 32 items 2 and 4 of the Law;
• Unauthorized VAT;
• Book approvals (Article 22);
• Received and advances paid;
• Correction of the deduction from previous taxes;
• VAT based on taxes;
• Right to deduction of the previous tax included in the stock of goods intended for further sale with the taxpayers who were registered for VAT for the first time, who were procured before their registration for VAT;
• Specificity of taxation for services by foreign legal entities; Deficit / surplus when entering goods in a warehouse, other topics related to VAT.

The acquired knowledge of the training represents a solid basis for the successful work of the trainees in: the financial sector of the companies from the business sphere, from the state bodies or work in a bank.

Processed topics related to the Law on Income Tax

• Recording of costs (recognized / unrecognized) on the basis of: costs and other personal income from employment (diaries, field allowances, separated life, death benefits, damages, severance pay, reimbursement, jubilee awards, sick leave, moving, using a vehicle), organised food and transportation, fees for members of the management and supervisory board, representations, donations and sponsorship, interest on loans, insurance premiums, penalties, scholarships, write-off and impairment, etc.;
• Income tax retention from: dividends, interests, copyrights, entertainment and sports activities, management, consulting, financial services, research services, telecommunication services, insurance premiums or reinsurance premiums, real estate leasing;
• Calculation of profit tax on paid dividend;
• Annual tax on total income.

Processed topics related to the Law on Personal Income

Expenses for the legal person / income for the individual on the basis of:

• works contracts, scholarships, donations, treatments;
• hotel bills;
• membership in management bodies;
• renting of movable and immovable property, etc.

Agenda by days

• Day 1 Income tax
• Day 2 Income tax
• Day 3 Personal income tax
• Day 4 Value Added Tax
• Day 5 and 6 Preparation of the Final account of the pilot company - construction 
• Day 7 and 8 Preparation of the Final account of the pilot company - production (whether retail trade)

Expected results Read more 

After completing the training, the trainee is skilled:

• to apply legal regulations and professional regulations: LEA, LRA, LPA, IAS, IFRS, IFRS for SMEs;
• to define and explain terms in the field of accounting;
• to understand accounting events;
• to distinguish types of costs, revenues and expenditures;
• to link a specific problem;
• to apply the accounts from an analytical chart of accounts;
• to define the term revenue / expenditure under IAS;
• to identify, link and group the given revenue and expenditure accounts;
• to determine the result of the operation (it expresses profit or loss);
• to determine unaccounted expenditures (taxable expenses and less stated revenues, expenditures and less stated incomes from related parties)
• to compile a Balance Sheet;
• to apply the knowledge for making a balance sheet;
• to arrange the balance positions according to the legislation;
• to present the capital;
• to have acquired the skills for logical thinking, problem solving, analyzing financial reports and making conclusions;
• to practically apply acquired knowledge and skills; independently prepare financial reports.

Program support, equipment and training materials

The training is organized in an equipped room with modern technology, practical work on an individual computer using software for financial and material accounting. 

The trainees are having tests, tasks and doing home projects as means to confirm the acquired knowledge.  

Certificate

• Each trainee who successfully completes the training will acquire the Certificate for the training received for the practical application of the laws on VAT, Personal Income Tax and Income Tax and the preparation of the Final Account.