An Appropriate Approach to Costing a Training Program Is to Group

question 36

Essay

An appropriate approach to costing a training program is to group costs according to the nature or kind of cost. Using one of the approaches described in the textbook, identify potential groupings of costs and provide at least two examples of cost that would naturally fit into each of the groups or categories.

---

Definitions:

AASB 112

The Australian Accounting Standards Board standard that relates to Income Taxes.

Tax Deductible

Expenses that can be subtracted from gross income to reduce the amount of income that is subject to taxation.

Deferred Tax Balances

Deferred tax balances represent differences between accounting income and taxable income that are recognized in the financial statements and will reverse in future periods.

Income Tax Expense

Income tax expense is the charge to earnings in a given period for taxes owed to federal, state, and local governments based on taxable income.