Why Budgeting?

“Don't tell me what you value, show me your budget, and I'll tell you what you value.” Joe Biden That’s what the significance of Budgeting is for any Organization! But Budgeting and forecasting process in any average size Organization takes extensive amount of resources and time of all level of management. So many times executives... Continue Reading →

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IAS 37 – Provisions (only)

Provisions - recognition IAS 37 defines provision as a liability of uncertain timing or amount. So, provision is a type of liability the timing and amount of which is uncertain. Liability is defined in the Conceptual Framework for Financial Reporting which is repeated by IAS 37 as well, as a present obligation of the entity... Continue Reading →

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