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
Learning Objectives
  • 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: August 6, 2023
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33 Reviews (107 ratings)

Reviews

3
Member's Profile
I took the class to get reacquainted with the subject matter and get a better understanding of it. I learned quite a bit from the presentation and will need to revisit it to better grasp the topics covered. It was a good and very informative class, however It took me a longer time to cover this 1-credit course than it has to complete previously taken 1-credit courses.
5
Member's Profile
Good overview, particularly for practitioners who have little knowledge or experience in calculating VAT. However, the FINAL EXAM should be clarified for Question 5, which is stated somewhat ambiguously.
4
Anonymous Author
This course provides a solid overview of basic VAT concepts. VAT rules can be very complex and vary from jurisdiction to jurisdiction, so I'll seek to involve specialists going forward.
3
Anonymous Author
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
4
Anonymous Author
Well presented and clearly explained. Material sufficient to reviewers and straight to the point. Good examples and good introduction to the subject matter.
3
Anonymous Author
Great content and appropriate supplementary material. However, the audio quality was poor which made it more challenging to absorb the material.
4
Member's Profile
Good material but too much material to cover in 30 minutes class. I would have liked to see the class extended to about an hour and half.
4
Member's Profile
Good information, speaker spoke softly & was occasionally difficult to understand - fortunately I could go back & try again.
3
Anonymous Author
I was looking for more detail on how VAT is actually recovered if paid on transactions. Good overview however.
4
Anonymous Author
This course was a little difficult to understand. I would have liked to have more examples of how to estimate
5
Anonymous Author
Very good introductory course. The explanation & slides on when VAT is not neutral could be a little clearer.
5
Member's Profile
I like the examples and overview -- very helpful for accountants that were not trained in VAT jurisdictions.
4
Anonymous Author
Good course for beginner level understanding of VAT. Included examples and easy to understand graphics.
4
Anonymous Author
First time learning about VAT. It was a little scary at first but it was well detail and explained.
3
Anonymous Author
The course material is helpful but the accent is so thick, it is very hard to understand.
5
Member's Profile
The instructor and the material were very thorough and effective in covering this topic.
2
Member's Profile
The recording has background noises and echo which makes it hard to hear clearly.
5
Member's Profile
It was a bit more quantitavi course, which required a more skills and knowledge.
4
Anonymous Author
Great materials. The access of the presenter was sometimes hard to understand.
Anonymous Author
Very difficult to understand the speaker. Materials not clearly presented.
3
Member's Profile
Although the presentation was good, the explanation could have been better.
3
Anonymous Author
At times, it was difficult understanding the instructor due to his accent.
5
Anonymous Author
General overview of VAT tax and effects of different VAT jurisdictions.
3
Anonymous Author
Content is good, but instructor is difficult to understand.
5
Member's Profile
Easy to follow course and slides serve as a good reference
1
Anonymous Author
hard to understand...i don't recommend this course
4
Anonymous Author
Instructor was difficult to understand at times.
5
Member's Profile
Great over view of this very complex subject.
5
Anonymous Author
Well presented and clearly explained.
3
Member's Profile
Strong accent, difficult to understand
5
Anonymous Author
Very informative and helpful.
4
Anonymous Author
The course is excellent.
4
Member's Profile
Good
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Prerequisites
Course Complexity: Intermediate

Prerequisite: Sales and value added tax exposure

 

Advanced Preparation: None

 

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
  Course Overview CPE
Course Syllabus
INTRODUCTION AND OVERVIEW
  Understanding Value Added Tax (VAT) Applications in Latin America and Beyond8:12
Accounting & Control
  VAT Terminology and Calculation 6:54
  Example, General Rule, and Non Neutral Cases of VAT7:26
  Red Flags and Audit Tips 4:45
Conclusion
  VAT Reconciliation Requirements and Conclusion 7:36
Continuous Play
  Understanding VAT (Value Added Tax) Accounting & Control34:51
SUPPORTING MATERIALS
  Slides: VAT, Accounting & Control PDF
  VAT, Accounting & Control Glossary/IndexPDF
  The Intersection of VAT and Shared Service Centers PDF
REVIEW & TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam