The Changes for the IFRS 16 The Judgements previously decided by the interpretations committee for the IFRS were revisited in 2002. The IFRS 16 specifically, which deals with leaseback transactions and sales, was given particular attention. Previously, the transactions that satisfied the necessities of IFRS 15 which was about Revenue from Contracts with Customers, were[...]

  SAP Advanced Business Application Programming (ABAP) Developers – Why So Expensive? The Covid-19 pandemic has shown the business world that how important it is for business entities and employees to display flexibility. Without an efficient and effective IT infrastructure, digital processes, websites, or apps, our economy would come to a standstill and that is[...]

How ICV is Benefiting UAE Economy in Terms of Wealth Creation and Bringing Quality Suppliers to Execute Govt Contracts The UAE is considered to be one of the most promising business regions in the world. Thanks to its well-developed infrastructure and the many initiatives taken by the authorities to create a business-friendly environment. The In-Country[...]

To Liquidate or Not to Liquidate? Sometimes, due to extreme disputes between business owners, companies have to undergo liquidation. Even when there are documents such as shareholders’ agreement in place, it can be hard to liquidate a company in such a situation. This is when an MVL, or Members Voluntary Liquidation, is used to close[...]

The Debt Problem Trying to identify just how indebted a company is, has become a major challenge for investors. On any company’s balance sheet, the amount of money it owes to its creditors is one of the most important figures. The money that a company owes to someone has an impact on loads of factors,[...]

3 Years After VAT Introduction: A Look at Achievements Throughout 2020, the FTA made a stellar effort at maintaining and increasing performance rates. It also maintained steady progress in project development according to its plans. FTA has managed to meet all its goals and implement federal taxes for a third year in a row, showing[...]

What Can Businesses in the UAE Do to Ensure Compliance with UBO and ESR? Meeting regulations set by the government will help the UAE to improve its regulatory compliance such as Ultimate Beneficial Ownership and Economic Substance Regulations. In order to stay in the game, businesses in the Emirates need to regularly check their financial[...]

Covid-19: Assistance for SME Business Directors The pandemic has made rapid changes in the economic structure of businesses worldwide. This guide has been written with the objective of assisting the directors and owners of small businesses. Why do the future predictions matter for a business when preparing the previous year’s accounts? These accounts are records[...]