Foundation In November 2017, Abu Dhabi National Oil Company (ADNOC) declared its In-Country Value (ICV) program for ADNOC Group Companies. Therefore, adnoc ICV guidelines goals of this program are: • Emiratisation: making extra business open doors for UAE nationals in…
IFRS 16 Tax impact of the new leasing standards IFRS 16 on leases became compelling 1 January 2019. Given this new standard, accounting disclosures for operating leases have also been affected. IFRS 16 Tax impact realize huge changes to both…
IFRS 16 sublease accounting entries is the same old thing for lessors, yet makes intricacy in subleasing courses of action. In the May 2018 version of Accounting Alert we noticed that IFRS 16 Leases (“IFRS 16”), which becomes effective for…
Adnoc ICV approved auditors UAE Adnoc ICV approved auditors chooses all the more certifying bodies to extend ICV program Abu Dhabi Adnoc ICV The Abu Dhabi national oil company (Adnoc) declared on Monday that it has extended its Adnoc in-country…
Importance of Banking IFRS If you work for a bank or some other financial related establishment, at that point you are very much aware of the way that Banking IFRS is somewhat extraordinary there. Alright, not exactly like that: IFRS…
Importance of accounting and auditing firms in Dubai Accounting and auditing firms in Dubai play an important role in the financial record-keeping process of any corporation, although their roles are distinct in their primary focus. Whether you run a small…
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About Mollak In brief, the Dubai Land Department, through its regulatory arm Real Estate Regulatory Authority (RERA), has launched a first-of-its-kind e-system called Mollak Services in Dubai (the Arabic word for Owners). To summaries, this regulates jointly owned properties, service…
Understanding the effect of IFRS 16 tax implications International Financial Reporting Standard 16 Leases (IFRS 16) comes into power for accounting periods starting on or after 1 January 2019. However, in certain cases prior appropriation comes into play. It replaces…
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