In line with our commitment to comply with the IFRS 16 updates, Asad Abbas & Co. (Chartered Accountants) has conducted training for its highly qualified accountants and auditors on the 30th December 2018, just right after the seminar held and conducted by the Chartered Accountants and Auditors in the UAE. The purpose of the seminar …
Value Added Tax (VAT) is a tax on consumption levied in the United Arab Emirates by the National Government. It was introduced on January 1, 2018. It is administered and collected by The Federal Tax Authority, primarily through the Federal Decree Law No (8) of 2017 on Value Added Tax. VAT is levied on most goods …
Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that
