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Hello there
I was just going through your FA and I couldn’t find the video about taxes
I found a video about sales tax but I couldn’t find a video that was dealing with the provision for tax accountI was wondering in which lecture is it in
Is it already included in the sales tax lecture since or is this video missed outPlease help me find it
Accounting for tax on profits (calculations are not in the syllabus) is dealt with in the lectures on limited companies (as explained it is only limited companies for which the business is charged tax). A provision for tax account is not relevant partly because it is simply an accrual just as any expense is accrued, but also because, of course, you cannot be asked to prepare any t-accounts in the exam!
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