The core principle of IFRS 15 is that an entity shall recognise revenue from the transfer of promised goods or services to customers at an amount that reflects the consideration…
Going Concern Standard ISA 570 ( REVISED )
The going concern review can require significant judgment to be applied and the impact of external factors, such as significant global events, can make the assessment of management’s going concern…
UAE Federal Decree-Law No ( 19 )
Federal Decree-Law No (19) regarding Trusts was issued to support the asset management sector in the country, provide new mechanisms for managing family businesses and assets, and encourage charitable trusts.…
Dubai Healthcare City (DHCC) Mandatory Submission of Audited Financial Statement Summary
As per the directive from Dubai Healthcare City (DHCC) Authority the regulator of Dubai Healthcare City (DHCC) free zone – it has issued a public statement mandating submission of audited…
Dubai Design District or D3
Dubai Design District has been launched in 2013 by the UAE’s prime minister and the ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum. It is emerged into 3 phrases…
IAS 8 – Accounting Policies, Changes in the Accounting Estimates and Errors
Understanding the difference: Accounting principles are general rules and guidelines established and a defined framework. Accounting policies are procedures and standards that an entity uses to follow such principles, these…
DSO or Dubai Silicon Oasis
Dubai Silicon Oasis was established in the year 2004 and is completely owned by government of Dubai under Dubai Silicon Oasis Authority. It has Dubai’s first smart city which is…
Covid-19-Related Rent Concessions Amendment to IFRS 16
IFRS 16, Leases, effective for annual periods beginning on or after 1 January 2019, was amended in response to the COVID-19 coronavirus pandemic by International Accounting Standards Board to provide…
UAE Gratuity – Type of Contract – Unlimited Contract
The following blog is part 3 of the UAE Gratuity topic. You can find the links to other topics in UAE Gratuity: Part 1 – Understanding basics of Gratuity(click on…
UAE Gratuity – Type of Contract – Limited Contract
The following blog is part 2 of the UAE Gratuity topic. You can find the links to other topics in UAE Gratuity: Part 1 – Understanding basics of Gratuity Part…
UAE Gratuity Policy – Understanding the basics of Gratuity
Every employee who has spent a considerable amount of time working in a company is provided a benefit from the company in the form of lumpsum amount when he/she moves…
Dubai International Financial Centre or DIFC
The Dubai International Financial Centre (DIFC) is a special economic zone in Dubai established in 2004. It is a hub for Middle East, Africa and South Asia (MEASA) markets. DIFC is one of…