On 12.03.2024, fourth-year students majoring in Accounting and Taxation, within the framework of the discipline “Audit” (lecturer – Skorba O.A.) joined a professional webinar on “How to create a vacation reserve and calculate compensation for unused vacations”. The webinar was prepared by Mariana Kavyn, a practicing accountant and tax consultant.
The webinar participants discussed important aspects of calculating the vacation reserve. In particular, it was emphasized that failure to accrue reserves may distort the cost price, financial statements and lead to incorrect calculation of income tax.
The following topics were discussed during the webinar
– where to start if you decide to calculate the vacation reserve?
– how to calculate the coefficient and the amount of the reserve? What is the impact of accruing the reserve?
– how to document the reserve?
– how to calculate compensation for unused vacation?
Students showed keen interest in the webinar as it gave them the opportunity to gain practical knowledge and develop their skills in accounting and taxation.