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...
by Auditor A | Apr 20, 2020 | English Topics, Uncategorized
Companies in UAE are required to maintain proper books of accounts under International Financial Reporting Standards and the companies have to keep the record of accounts for 5 years. Some of the basic requirements related to bookkeeping, accounting, auditing and...
by Noorjahan S. Yargatti | Apr 20, 2020 | English Topics, Uncategorized
What remains in IAS 27 after the introduction of IFRS 10 is the accounting treatment of its separate financial statements for branches, jointly managed companies and associates. IFRS 10 establishes principles for presenting and preparing consolidated financial...
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