Deciding Which Sacco to Join Kenya
Factors to consider before joining a Sacco Savings and Credit Co-operatives SACCOs have helped millions of Kenyans actualize their investment dreams. Under the regulation of SACCO SOCIETIES REGULATORY AUTHORITY (SASRA) they provide financial solutions to investors with small financial muscle. Members pool their savings together and obtain bigger loans at favorable interest rates. Their savings […]
Bankruptcy Accounting
Actions that can tantamount to an act of bankruptcy Unless the opposite is known, Accounting always assumes that the business will continue to operate for an indefinitely long period of time, only if the business was going to be sold or closed down would it be necessary to show how much the assets would fetch. […]
Redefinition of Preferential Tax Regime
Initially, Transfer pricing regulation was only applicable to transactions between a resident corporate entity and a related non-resident entity operating or a resident-related entity in a preferential tax regime.
Internal Audit and Corporate Governance
Internal Audit and Corporate Governance in Kenya The synergy of efficient and ethical corporate governance and internal audit function is not only vital but also fatal for shareholders and various stakeholders. This synergy compromise was recently echoed when a case of Flying Squad intercept Ksh.2 billion in a safe inside Barclays Bank Kenya, nevertheless, two […]
Finance Act 2022
On 21st June 2022, The President of the Republic of Kenya assented The Finance Act 2022 into law and was published by the Cabinet Secretary, Ministry of National Treasury on Thursday, 23rd June 2022. This Finance Act has introduced a raft of tax measures to amendment The Income Tax Act, Value Added Tax Act, Excise […]
IAS 1 PRESENTATION OF FINANCIAL STATEMENTS
IAS 1 PRESENTATION OF FINANCIAL STATEMENTS IAS 1 is an International Financial Reporting Standard adopted by the International Accounting Standards Board (IASB) IAS 1 sets out overall requirements for the presentation of financial statements, guidelines for their structure and minimum requirements for their content. It requires an entity to present a complete set of financial statements at least […]
Understanding the basics of IFRS 9;Financial instruments.
IFRS 9 is an International financial reporting standard published by the International Accounting Standards Board (IASB) to address the accounting of financial instruments. It covers 3 areas;
What are the benefits of IFRS implementation to a company?
What is IFRS? International Financial Reporting Standards (IFRS) are a set of high quality, transparent, and comparable global accounting standards developed by International Accounting Standards Board (IASB) which is an independent standard-setting board. The standards provide a common accounting language so businesses and their financial statements are consistent and reliable across companies and countries. Why […]
