Audit of financial statements
The resulting laws of the Accounting Law define the entities that are tasked with periodically performing the audit…
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Accounting and taxation
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Commodities – what exactly are they? Definition of the term
Commodities are one of the most important elements in the economy of any country. It is the basic…
Financial statement term – what is it?
Every organization and company must submit its financial statements by the due date. This deadline is extremely important,…
Fixed assets – what are they and how to account for them?
Fixed assets are one of the basic categories of assets in an enterprise that are used to conduct…
Low-value fixed asset – what is it? Definition of the term
Low-value fixed asset is a term that is used in accounting and refers to such fixed assets whose…
Extraordinary losses – what are they? Definition of the concept
Extraordinary losses is an accounting term that refers to unexpected and unusual expenses or losses of an entity…
Net loss – what is it? Definition of the term
Net loss is an accounting term that refers to a situation in which an entity’s revenues are less…
Report on the activities of the entity – what is it?
An entity’s management report is a document that presents the entity’s activities and financial position during a given…
Pro-forma financial statements – what are they?
Apro-forma financial statement is a document that shows a company’s projected financial position in the future. It is…
Financial statements – what are they? Definition of the term
Afinancial statement is a document that presents the financial position of a company at the end of a…