ITAA Tussentijdse Proeven case studies
ITAA Tussentijdse Proeven · Put your knowledge to work in context.
The ITAA (Institute for Tax Advisors and Accountants) is the Belgian institute that manages the public register of accountants and tax advisors and oversees access to both professions. Its site describes the institute's task as managing that register and supervising entry to the profession by regularly organising admission examinations and competence examinations, while also following each trainee's trajectory between those examinations. The ITAA Tussentijdse Proeven case studies are 5 cases and about 2,846 words.
1Year-end cut-off under a disputed delivery
You are preparing the 2024 annual accounts of Van Acker Metaal bv, a small trading company with a December year-end. Turnover is around €2.4 million and the materiality threshold agreed with the client is €25,000.
632 words, about 3 min2Director's loan account and private use of a company car
Mr Peeters is the sole director and shareholder of Peeters Consulting bv, a Belgian SME taxed as a small company. During 2024 he withdrew €60,000 from the company account in small amounts, recorded in a current account (rekening-courant) without a written agreement.
663 words, about 3 min3Revenue recognition on a fixed-price IT project
Software House NV signs a fixed-price contract in March 2024 to build a custom logistics platform for a client for €1,200,000. The contract is a single performance obligation satisfied over time because the client controls the work in progress and the platform has no alternative use.
517 words, about 3 min4VAT treatment of a mixed-use property renovation
Immo Renov bv purchases and renovates an old building in Belgium for €1,500,000 plus 21% VAT (€315,000). The ground floor will be let to a bakery as commercial space; the upper floors will be converted into two apartments let as private residences.
522 words, about 3 min5Inventory valuation and obsolete stock in a seasonal business
Bloemen Import bv imports cut flowers and plants. At 31 December 2024 inventory at cost is €380,000.
512 words, about 3 min