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FUNDAMENTAL ACCOUNTING

By |2016-11-26T21:06:07+00:00November 20th, 2016|Categories: Administrative Services, Salary Managing, Tax Consulting|

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 Financial Accounting Concepts No. 1, are to provide information that In order to prepare the financial [...]

EU VAT CHANGES FOR 2015

By |2016-11-26T21:06:08+00:00November 20th, 2016|Categories: Accounting, Administrative Services, Salary Managing, Tax Consulting|

There are two new directives, first for the fast reaction mechanism aimed towards preventing VAT fraud. Second one is for the optional and temporary application of the reverse charge mechanism in relation to supplies of certain goods and services. Quick Reaction mechanism provides the legal basis to the countries that are members of the EU to integrate [...]

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