Course Details
Course

Understanding VAT (Value Added Tax) Accounting and Control 0.5 CPE


Course Duration: 0.5 Hours
Course Rating:
Mode of Delivery: on_demand
Course Level: Intermediate
Study Area: Taxes

This course enables controllers, accounting and tax professionals to understand the importance of managing Value-Added-Tax (VAT) transactions and balances. VAT management is not rocket science, but headaches can be avoided with a proper registration and control process in place. While this course is focused mainly on Latin America protocols, the concepts and rules around VAT are applicable in other regions as the mechanics are quite similar across the globe. This course covers real-world examples of VAT management, as well as:

  • VAT definition, history and terminology
  • Examples of how to record VAT
  • Potential red flags around VAT treatment
  • Tips on audit compliance
Prerequisites

Prerequisite: Sales and value added tax exposure

 

Advanced Preparation: None

 

Learning Objective
  • Define Value-Added- Tax (VAT) and discover how VAT works.
  • Identify the risks behind improper VAT management.
  • Recognize how to plan your VAT balance
  • Prepare to pass a VAT audit successfully
  • Revise and improve your own VAT registration process

Last updated/reviewed: March 17, 2024

(76) Reviews

(32 rating)
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amber.deadrick

I've been using pivot tables for years and still picked up a few helpful hints in this lesson. This is a very useful session for any user.

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cheri.zuidema

Good course explaining how account takeovers can occur and ways individuals and businesses can protect themselves.

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alma.reyes

A very interesting read with a good summary of how fraud was committed.

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carol.chen

This course was very interesting. I liked the examples he gave and how he Incorporated his own experiences into the lecture.

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erica.art

The slides were a great resource for learning. I'm happy that they were provided in PDF format so I could refer to them for the quiz and the exam.

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rouba.kronfol

Very helpful, I had forgotten a few of the features.

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jbellows

A good summary of the gift tax rules. The narrator is obviously very knowledgeable about the topic. Good in depth detail was given as well.

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robert.janicki

Very helpful study guide, and the examples are helpful to understand context. Would be helpful to have more examples.

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supti.nag

Great refresher course for people with experience. For new accountants, this is great to get a better understanding of accounting concepts.

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yongsook.prince

Well structured overview of the course by instructor

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lsloane

As professional finance and strategy, I have had the opportunity to deal with FCPA Compliance issues in over 30 countries. The course is good in covering the compliance every company must address daily.

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richard.lee

Lots of good information in this course. Not for beginners or those looking for a high-level overview.

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ed.defuria

Very informative. The class provided the material in a clear and concise manner.

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climbingivy@fastmail.fm

This instructor is always my favorite for Excel classes. His slides and presentations are excellent. It's a tad slow but the repetition makes the new formulas stick in my head.

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kevin_t..hall

Thankful for the lessons provided. The content was dynamic and practical and makes good points. Thanks

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brivera

Liked how the instructor presented the information. She gave a lot of good websites to visit for more information.

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kade

Road Map to Career Success overview here. Get your life together, get your career on track, be better.

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matthew.towse

Excellent materials and will make for good reference going forward.

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greg.biedenstein

Great course. Very easy to follow. Great examples from the professor.

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thor.bendickson

Though the material in this course was well thought out and presented, I found it distasteful and unpatriotic to include a former president, not just as an example of an amoral/immoral leader, but also the answer to an exam question. Keep your politics out of my professional learning materials...

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mallory.brennan

Great course on Corporate tax filings for schedule M-3 Part III.

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amy.j.miller

great class thank you. i will recommend. i am so glad i took it.

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doug.poor

Extremely helpful and clear guidance. Recommend this to anyone else who is interested in learning more about Power BI.

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emily.moran

This course was really interesting because I learned about some of the new things I can do with 365. Definitely recommended. However, digging into the differences between various versions of Excel is not too interesting.

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andrew.smith

now that I WFH full time because of the pandemic, this was SO helpful!

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antonia_.calderon

Great course! The real world examples helped me better understand the topics covered.

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yxu

It would be beneficial to release the wrong answers for the final exam.

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mario.lam

This is a great course. I recently start doing budget forecast for my company. I can see a lot of the similarity between this course and actual real life work. This course definitely help me to improve my understanding and the concept behind my work. I also like the few tricks that Blair shares at the end of the course.

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jholiday

This instructor courses are always very helpful and are well thought out. I always look for her courses on-line as I always learn something new and interesting from her classes.

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elisabeth.ogilvie

Very good introductory course. The explanation & slides on when VAT is not neutral could be a little clearer.

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dhaval.kadakia

Very good refresher! Must take it every few years. Very good coverage.

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rdobensky

Good but hard to understand instructor (he trails off at the end of the sentence). Please provide more notes or explanations on slides where VAT is not neutral

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jgierl

Supporting materials helped drive home discussion, relevant for CPA day-to-day dealings with Operations and Executive Management.

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yenjay

This was a helpful course for someone who volunteers with a small church group to understand what fraud issues might arise for small entities and what can be done to mitigate the risk.

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jim.stanislav

Nice looking/professional presentation and materials.

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patrick.gowaty

Great Course I think we need more documentation.

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christina.smith

I love Lynn Fountain's courses she does such a good job describing the topic in depth without being overwhelming and by keeping it interesting.

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mubing_.liu

The course is easy to understand. Especially, the examples with the journal entries help a lot.

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patty.schneider

The information was informative and gave a good overview of forensic accounting. Also, the instructor made it very easy to follow and understand the topics.

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ldendrinos

I highly recommend this course to anyone working in accounting. The class material is filled with lots of examples. Great class.

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mwong

Overall great webinar. It would be helpful to reduce the number of abbreviations in the slides though.

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michael.ware

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mwana.mwakabonga_2

A very relevant course to a person moving into finance executive positions.

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barbara.carlin_1

The slides and glossary will prove to be a great reference guide on new Tax and Job Act.

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binita.thakker

Excellent course and helpful in many ways. Can there be another course from this instructor on how to handle Q&A when presenting financial information?

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janis.balodis

Course was very interesting! Its also very useful for further understanding.

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ivanomak

Great instructor and delivery. Enjoyed the material and all examples.

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diane.suznovich

It seemed that slides were not in order. For example, the review of the first question was not presented until the final section. Also, 120/240 equals 50% not 240/120, which equals 2, as shown on the slides.

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robert.jacobs

Very articulate, concise and insightful! I would recommend for anyone looking to improve their public presence.

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frank.perillo

A useful and technical course topic which was presented in a clear and concise manner.

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godfrey

This has improve my excel knowledge tenfold. thank you for your well thought out plan and explanations.

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abubacker.syed_abdul

Some more error rectification technique may be included in this course.

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kelley.gregg

very good

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simon.adell

A very interesting topic, another one they don't teach you in school.

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todd.stanley

good review material

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rachel.scott_1

Very basic if you're a CPA.

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hossam_elsherief

Excellent course

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judith.moscova

The course was worth sitting through. I had to listen to the lessons twice to grasp the concepts, and that helped with the final exams.

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amwheelerap

This was a long course. Perhaps it could have been split into 2 parts? HR, Payroll and even Accounts Payable would benefit the most.

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brandy.spencer

A printable reference guide would've been helpful.

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alexissmith194

Bullet points - not the entire conversation or presentation - Please!!!!

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jshoular

Excellent

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rebyang

Like the format of 'quote' and then analysis

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pmcabee

Done

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nlm1on

As is true for his other sessions, this has a tremendous amount of material which can be somewhat overwhelming. Good stuff, though.

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mhpradwin

l like learn about this course and subject We will follow full courses for an intense love thank you very much

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hichamjawhar

A nice over all review of the financial principals.

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kimberly.ings

Very interesting approach to learning about items that impact the FX gain/loss line item. Concise and easy to follow.

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jennifer_dunn

The course was well organized and easy to follow. The instructor spoke clearly, and was able to keep the listener's attention.

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sergio_martinez

Eye opener for real life situations, and re-assurance that looking to do the right thing is the best policy

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pcmorris_99

Excellent presentation of information; particularly for accounting professionals who have no background on this topic. Again, I would have liked to review the graded final exam to determine which question was answered incorrectly.

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michael.morgus

You will learn about how operating lines of credit works and what to watch out for. Very informative & reference material.

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asfavora_24

Easy learning and well explained.Worth learning.

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marie.johnston

Excellent step by step guide on how to proceed with due diligence and having been through one due diligence this resinated on what checks and balances the buyer needs to have to ensure a smooth and successful pre-purchase period.

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chantell.haines

Great content and the slides were put together well. I would just suggest that the speaker speak faster. There were way to many long pauses and I feel like a lot more information could have been fit into the 1 hour.

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imanga

very usefull.Thank you !

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