by Auditor A | Apr 23, 2020 | English Topics, Uncategorized
IFRS stands for international financial reporting standards. It is a set of accounting rules and standards that determine how accounting events should be reported in your businesses’ financial statements. IFRS make financial statements consistent, comparable, and...
by Auditor A | Apr 23, 2020 | English Topics, Uncategorized
Chart of Accounts is a list of accounts which should be designed by the accountant of the company taking into consideration of the nature of a business. It is very useful tool to categorize the accounting data in to different class of accounts and to generate...
by Noorjahan S. Yargatti | Apr 23, 2020 | English Topics, Uncategorized
There are two main types of liquidations for insolvent companies– compulsory liquidation and creditor’s voluntary liquidation (CVL). When the companies all assets are sold to repay its creditors, business closes down, and its name is removed from the register at...
by Rafaqat Ali Khan | Apr 22, 2020 | English Topics, Uncategorized
by Noorjahan S. Yargatti | Apr 21, 2020 | English Topics, Uncategorized
It is usually prepared by the accountant and finalized by an auditor or a charted accountant. The annual statement is compiled on the basis of information from the general ledger and accounting journal, the income statement, the balance sheet, the equity contribution...
by Auditor A | Apr 20, 2020 | English Topics, Uncategorized
Input tax must be recovered in the first tax period in which two conditions are satisfied: a. the tax invoice is received; and b. an intention to make the payment of consideration of the supply before the expiration of six months after the agreed date of payment is...
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