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Month: October 2021
Transfer Pricing – Detail Overview
What is Transfer Pricing? Transfer pricing is the setting of the price for goods and services sold between controlled (or related) legal entities within an enterprise. For example, if a subsidiary company sells goods to a parent company, the cost of those goods paid by the parent to the subsidiary is the transfer price. How transfer pricing playing role […]
SFAS 78 With Summary
SUMMARY OF STATEMENT NO. 78CLASSIFICATION OF OBLIGATIONS THAT ARE CALLABLE BY THE CREDITOR—AN AMENDMENT OF ARB NO. 43, CHAPTER 3A (ISSUED 12/83)SummaryThis Statement amends ARB No. 43, Chapter 3A, “Current Assets and Current Liabilities,” to specify the balance sheet classification of obligations that, by their terms, are or will be due on demand within one […]
VAT(Identification of Designated Zones) – UAE
VAT treatment of Free Zones VAT is a general consumption tax imposed on most supplies of goods and services in the UAE. By default, it is chargeable on supplies of goods and services throughout the territorial area of the UAE. This territorial area will also include those areas currently defined as both fenced and non-fenced […]
Generally Accepted Accounting Principles
It is important that you understand the concepts of Generally Accepted Accounting Principles (GAAP), which form the basis of accounting and are part of the language of accounting and business. Third parties who invest in or provide loans to any company must know that they can rely on the financial information provided.This chapter will introduce […]