Exemption of SMEs in CITA
It is no longer new that the advent of the Finance Act 2020, which is majorly a bulk of significant change in the Company Income Tax Act and its related allies in the tax family,(VAT etc.) has brought a shift…
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FUNDAMENTAL ACCOUNTING
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…
USES OF FINANCIAL REPORTS
Financial statements may be used by different stakeholders for a multitude of purposes. Owners and managers require financial statements to make important business decisions affecting its continued operations. Financial analysis is then performed on these statements, providing management with a more…