Content navigation ACCA pre-test raiders ACCA and CFA comparison ACCA recognition ACCA preparation method
ACCA exam introduction
Seeing loss, it is estimated that every child who studies TX(UK) is very big. Indeed, this part is a complex and difficult knowledge point in TX(UK). However, the focus of the examination is mainly the basic operation. Therefore, everyone should master the deduction rules of each kind of Loss loss and deduct it according to the provisions of the tax law.
As early as possible, most probable, as much as possible are often mentioned in the topic, so we can use the deduction of Loss, at the same time, we can also ensure that all the existing deductions can be enjoyed, help taxpayers save taxes as much as possible, and offset them as soon as possible.
The following is a collection of loss deduction rules made by the teacher for the students. I hope to help you master the basic knowledge points, clear your mind and Pass smoothly!
Reading guide for this article:
"must" means that you don't have to declare claim, and it will be automatically deducted;
"Full amount" means that the amount cannot be selected, and it is deducted according to the maximum deductible amount;
"Optional" means that if you want to enjoy the credit, you must declare claim to the tax bureau;
"Arbitrary amount" means that taxpayers can decide the amount of deduction by themselves, and the topic usually examines the optimal deduction, so that other deductions can be deducted without waste, and then the applicable amount of loss is determined.
Income Tax
Trading loss
1.loss relief against net income (optional)
Total income before deducting PA in the current year or/and last year.
There are four options: first this year and then last year, first last year and then this year, only this year and only last year.
Deduction for non-trading income shall be made in full, but be careful not to exceed Cap. The upper limit is whichever is higher: 50,000 or 25%*(person
s total income - gross personal pension contributions)
Deduction of trading income, full deduction
2. Carry forward loss relief
Unused or used-up leftovers are automatically brought to the future until they are used up.
The deduction of future Trading income must be made in full.
3. Trading Losses Relieved Against Capital Gains (optional)
The deduction amount is the lower of the following two: Trading loss _ general income or Capital Gain _ Current Capital Loss _ Capital Loss Brought Forward (full amount).
4. Early trade loss relief (optional)
In the first four tax year, the trading loss in any one year can be deducted from the total income before deducting PA in the past three years.
Full deduction, no cap, from the earliest year, three years will be deducted.
Note that loss cannot overlap during the first three tax year of operation.
5. Terminal loss relief (optional)
Calculate the Terminal loss, and deduct the Trading profit of the past three years from the latest year.
Full deduction
Property loss
The Property income brought into the future to offset the future must be fully deducted.
Ordinary lease loss can only offset ordinary lease income, and FHL loss can offset FHL income.
Capital Gain Tax
Capital loss
The Capital loss of that year must be fully deducted.
Capital loss brought by Capital loss brought forward in the past years only needs to reduce this year's capital gain to AE amount.
Corporation Tax
Trading loss
Choose one of the five schemes.
1. Current period relief only
2. Current period relief, then carry back relief
3. Current period relief, then carry forward relief
4. Current period relief, then carry back relief, then carry forward relief
5. Carry forward relief only.
Current period relief
Total profit before deducting QCD from Accounting period that generates loss.
Full deduction
Carry back relief
Do Current period relief before you can Carry back relief.
Deduct the total profit before the deduction of QCD before the Accounting period that generates loss starts/within 0/2 months of KLOC-.
Full deduction
Carry forward relief
Total profit before deduction QCD in Accounting period is deducted.
The amount of deduction is arbitrary
Property loss
Total profit before deducting QCD within the Accounting period that generates loss must be fully deducted.
The remaining loss will be automatically brought into the future, and the total profit before the deduction of QCD in the Accounting period will be deducted, and the amount of deduction will be arbitrary.
Capital loss
The capital gain in the Accounting period that generates loss must be fully deducted.
The remaining loss brought into the future must be fully deducted from capital gain.
Comparison between ACCA and CFA
Definition aspect
CFA, named Chartered Financial Analyst in Chinese, is a qualification title in the field of securities investment. In the financial industry, CFA is a very strict and highly valuable qualification certificate in the global field. As an international authoritative qualification certificate, CFA has been widely recognized both internationally and domestically.
ACCA, named chartered certified accountants Association in Chinese, is called "International Certified Public Accountant" in China. ACCA can be recognized as "the passport of international accounting" by the whole world. When candidates pass the ACCA exam and become members, they can hold positions such as auditing, investment consulting and financial management all over the world.
Direction aspect
In terms of direction, ACCA and CFA have different emphases. ACCA focuses on accounting industry, while CFA focuses on financial investment. The only thing in common is that both of them are internationally recognized and authoritative international certificates in the industry.
Examination aspect
In terms of exams, CFA and ACCA also have certain differences. CFA exam, a * * * divided the Level I, Level II and Level III exams. Candidates need to pass three stages of examinations to obtain the qualification certificate of chartered financial analyst. It should be noted that if a candidate fails to pass a certain stage of the exam, he is not eligible to continue to take the next stage of the exam.
The ACCA exam is mainly divided into two parts, namely, the basic stage and the professional stage. Like CFA's examination rules, candidates need to pass two stages of examination to obtain chartered certified accountants qualification certificate.
Which is better, CFA or ACCA?
I believe many people want to know the answer to this. However, Xiao Bian feels that there is no such thing as good or bad because the development direction and focus of CFA and ACCA are different. In fact, both of them are very representative certificates in the international field. If you choose to develop in the accounting industry in the future, it is suggested that you can apply for ACCA. However, if you are interested in financial investment and want to be promoted to a senior position in this field, CFA is undoubtedly your best choice.
ACCA recognition
First, ACCA entered China very early and has a first-Mover advantage.
ACCA is quite influential in the world. 1904 was established in Britain, and its membership is recognized by EU legislation and company laws of many countries. ACCA entered China early, and its early members also became high-end positions such as corporate finance manager and CFO in China. It can be seen that ACCA still has a first-Mover advantage in China's employment.
Second, becoming an ACCA member has a high salary and broad development space.
According to the data in ACCA's annual salary survey report, the salary income of 2 1%ACCA members can reach 500,000-1million. Its salary advantage is remarkable. For those who pursue high salary, it will be a relatively good choice to get ACCA.
At present, there is a big talent gap in ACCA, and even if many enterprises are willing to pay high salaries, they cannot attract enough employees. According to official data, there are 370,000 holders of ACCA and 22,000 holders of ACCA in China, but most of them are employed in Hong Kong. From this point of view, ACCA holders have a wide range of employment opportunities and personal career development space. Obtaining ACCA membership has won more career development opportunities for yourself!
3. Being an ACCA member is equivalent to having employment passes all over the world.
ACCA membership is highly recognized, and we can say that "having ACCA membership is equivalent to having a passport for employment around the world". ACCA holders have more job choices and advantages in career promotion. They can engage in related work in the financial department of industrial and commercial enterprises, the Big Four, accounting firms and financial institutions, and gain the respect of people in the industry. No matter the position or salary, people are envious!
ACCA preparation method
Step 1: Build a solid foundation and pass it at one time.
A solid foundation is a necessary condition for passing ACCA. ACCA exams are mostly subjective questions, which mainly examine candidates' own views on problems, their ability to deal with and solve problems, and there is no certain standard answer, so many candidates are not accurate enough to grasp the contents of the exam, which often leads to the failure of the exam. If you want to pass the ACCA exam quickly, the guidance of famous teachers is inseparable. There are such teachers in Gao Dun Online School. Under their guidance, you can quickly understand ACCA knowledge and cultivate business thinking. At the same time, you can use the Gao Dun question bank system provided by Gao Dun to familiarize yourself with the environment and types of computer exams and pass the F 1-F4 exam at one time.
Step 2: Practice early to gain experience.
Candidates can sign up for online courses for early internship. During the study of F5-F9, you can use weekends and winter and summer vacations as much as possible to practice. These internship experiences can help you understand the operation mode of financial positions in top 500 enterprises, accumulate some practical work experience, and at the same time, let you better understand higher-level theoretical knowledge, killing two birds with one stone.
During this period, you can also apply for overseas distance education programs in oxford brookes university, UK.
Part III: Finish the exam and achieve yourself.
In the final examination stage of ACCA, it is easier for candidates with rich practical experience to understand professional knowledge. Before the exam, Gao Dun prepared a series of preparation tools, such as sprint live broadcast before the exam, a collection of essays, a white paper on the analysis of the exam outline, etc. At the same time, the course also provides online exercises training, so that you can check and fill in the gaps before the exam and pass the exam at one time.