ITAA Toelatingsexamen case studies
ITAA Toelatingsexamen · Put your knowledge to work in context.
The ITAA Toelatingsexamen (admission exam) is the entry gate to the Belgian professions of accountant and tax adviser. Belgium regulates both professions by law: anyone who wants to practise must be entered in the public register, and the Institute for Tax Advisors and Accountants (ITAA) manages that register and supervises access to the profession, including by organising admission exams and competence exams on a regular basis. The ITAA Toelatingsexamen case studies are 5 cases and about 2,572 words.
1Year-End Cut-Off at a Wholesale Bakery
Bakkerij Van Looy BV closes its books on 31 December. On 27 December a large order of 1,200 festive boxes is dispatched to a supermarket chain, invoiced at €18,000 excluding VAT, with payment terms of 45 days.
535 words, about 3 min2Depreciation Policy Change at a Machine Shop
Metaalwerk De Wilde NV has used straight-line depreciation for its CNC machines over 10 years with no residual value. At the start of year 5, management concludes that the machines are being used more intensively and that a remaining useful life of 4 years (instead of 6) better reflects reality; residual value is still nil.
458 words, about 2 min3VAT and the Private Use of a Company Van
Loodgietersbedrijf Peeters BV is a VAT-registered plumbing business in Belgium. It buys a delivery van for €36,300 including 21% VAT and uses it partly for private trips by the owner.
543 words, about 3 min4Choosing Between Salary and Dividend for a Director-Shareholder
Sofie is the sole director and shareholder of a small consultancy BV. The company expects a profit before her remuneration of €120,000 for the year.
539 words, about 3 min5Inventory Valuation and the Slow-Moving Stock Line
Groothandel Lindemans BV sells garden equipment. At year-end its inventory includes 400 units of a patio heater model bought at €85 each.
497 words, about 2 min