Tag Archives: #TransparentFinance

Prepares financial statement: Who prepares the financial statements ?

Prepares financial statement The financial statements are typically prepared by the company’s accounting and finance department or by professional accountants and auditors. These individuals have the knowledge and expertise to accurately compile and analyze financial data in accordance with accounting principles and standards. It is mandatory to Prepares financial statement. In smaller businesses, the financial… Read More »

Is tax planning legal or illegal?

Tax Planning Legal or Illegal The Tax planning legal or illegal, Tax planning is a legal and legitimate practice that individuals and businesses engage in to manage their tax obligations and minimize their tax liability. Tax laws provide provisions and opportunities for taxpayers to legally reduce their tax burden through various strategies such as… Read More »

Is tax planning legal?

Is Tax Planning Legal Tax planning is legal when it involves utilizing legitimate strategies… Read More »

How to verify contingent liabilities?

Contingent Liabilities Contingent liabilities can verify by reviewing the company’s financial statements and related disclosures. Companies are required to disclose significant that liabilities in their financial statements, along with a description of the nature of the liability and the likelihood of it being realized. The notes to the financial statements may also include information about… Read More »

What is tax compliance?

Tax compliance Tax compliance refers to the act of adhering to the rules, regulations, and requirements set forth by tax authorities in order to fulfill one’s tax obligations. It involves accurately reporting and disclosing relevant financial information, calculating and paying the appropriate amount of taxes, and submitting the required documentation within specified deadlines. For more… Read More »

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