Financial Services

Financial Reporting KPMG Nigeria

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The Financial Reporting Council of Nigeria (FRCN) issued a Public Notice today, 5 August 2019, revoking its “Rule 4” titled “Transactions requiring registration from statutory bodies such as the National Office for Technology Acquisition and Promotion”.

The revocation became effective on 11 July 2019 and would apply prospectively.

Rule 4 provided that transactions that require the approval of, and or registration with, a statutory body in Nigeria would have financial reporting implications only when the relevant regulatory approval is obtained and or registration is completed. Consequently, companies that failed to meet these requirements were unable to recognize the related expenses in their financial statements.

The revocation of Rule 4 follows the recent decision of the Court of Appeal (CoA) in the case of Stanbic IBTC Holdings Plc and FRCN & National Office for Technology Acquisition and Promotion (NOTAP) where the CoA held that failure to register an agreement with NOTAP does not render it illegal, null and void.

The revocation of Rule 4 is a welcome development as it effectively lays to rest the controversies attendant to its promulgation in 2016.

The revocation became effective on 11 July 2019 and would apply prospectively.

The revocation of Rule 4 is a welcome development as it effectively lays to rest the controversies attendant to its promulgation in 2016.

For any inquiries or feedback on the above, please contact:

Wole Obayomi

[email protected]

Contact Us

Lagos

KPMG Tower,

Bishop Aboyade Cole Street Victoria Island

Tel: +234 9068459329

Abuja

84, Kwame Nkrumah Crescent,

Asokoro Abuja. FCT.

Tel: +2349062278732

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Best Financial Reporting Services

Vasl Team 2023-07-18

Customizable Reporting TemplatesThe best financial reporting services offer a wide range of customizable reporting templates. Best Financial Reporting Services for Small BusinessesXYZ Reporting Solutions: XYZ Reporting Solutions is an intuitive and user-friendly platform specifically designed for small businesses. Best Financial Reporting Services for Medium to Large BusinessesDEF Enterprise Reporting: DEF Enterprise Reporting is a comprehensive financial reporting service suitable for medium to large businesses. Case Studies: Success Stories with Financial Reporting Services[Insert case studies of businesses that achieved significant improvements in their financial reporting processes through the use of specific services. Tips for Maximizing the Benefits of Financial Reporting ServicesTo maximize the benefits of financial reporting services, consider the following tips:Regularly review and update reporting templates to reflect evolving business needs.

Managing Your Business Finances: Essential Tools and Strategies

Upbooks 2023-06-02

In this blog post, we will explore some essential tools and strategies that can help you manage your business finances effectively. Budgeting and Forecasting:One of the key aspects of managing business finances is creating a budget and forecasting future financial needs. Collaborative Financial Management:Managing your business finances often involves collaboration with your accountant or financial team. This facilitates smooth communication, enhances transparency, and ensures that everyone is on the same page when it comes to managing your business finances. By leveraging essential tools and implementing sound financial strategies, you can gain better control over your cash flow, make informed decisions, and optimize your financial performance.

financial reporting - KPMG

kpmg ng 2023-06-24

The role of KPMG in financial reportingFinancial reporting, the process of identifying, measuring, and communicating financial information to an organization's stakeholders, plays a crucial role in decision-making. Companies are required to prepare financial statements that accurately reflect their financial health and provide transparency to their investors. In this article, we’ll examine the role of KPMG in external audits and financial reporting. The auditors will test internal controls over financial reporting as well as assess the risks of material misstatement. ConclusionIn conclusion, financial reporting plays an essential role in decision-making for companies, stakeholders, investors, and regulatory bodies.

What is Financial Reporting? and Why Is It Important?

Upbooks 2022-07-07

We also work with your existing accounting software to make financial reporting a smooth component of your daily operations. We will discuss financial reporting from the ground up in this article, including its definition, the financial data it typically contains, the advantages, and the significance of a standard financial reporting system. Before diving into the most common forms of financial statements, it’s vital to understand what a financial statement is and how it fits into a financial report’s overall structure. A financial statement is a written document that outlines a company’s financial information and operations. Despite these differences, both systems provide a standard framework for producing accurate and uniform financial reporting across the board.

20-068MR Guidelines for meeting upcoming AGM and financial reporting requirements following Coronavirus

Mark Game 2022-10-24

Financial Reporting Requirements ObligationsASIC is closely monitoring developments that may affect financial reporting requirements, talking to market participants and auditors, and considering possible impacts and responses. We have therefore provided a ‘no-action’ position on upcoming AGMs that need to be deferred or that are held online. This may include a ‘hybrid’ AGM (where there are a physical location and online facilities) or a ‘virtual’ AGM that is conducted solely online. This ‘no-action’ position on virtual AGMs is conditional on the technology providing members as a whole a reasonable opportunity to participate (sections 249S). Article Source: AGM and financial reporting

Valuation Services

Felix Advisory 2021-05-07

Our Valuation Services experts provide objective valuations for financial reporting, tax, investment and risk management purposes.

We aim at offering integrated valuation service with internationally accepted valuation approaches.

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NSE Mandates XBRL Format for Voting Results Submission

Aaron Jude 2024-02-26

Introduction: The National Stock Exchange of India (NSE) has recently issued a circular dated October 17, 2023, introducing a mandatory requirement for filing Voting Results in XBRL Format. However, to enhance compliance and streamline the reporting process, the NSE has decided to discontinue the PDF reporting format for Voting Results submission. Effective November 1, 2023, listed entities will exclusively submit Voting Result disclosures in XBRL format. This shift to filing Voting Results in XBRL format is intended to foster consistency, efficiency, and accuracy in reporting General Meeting outcomes. Previously, entities were submitting Voting Results in both PDF and XBRL formats, but now, effective November 1, 2023, listed entities will exclusively submit Voting Result disclosures in XBRL format. This shift to filing Voting Results in XBRL format is intended to foster consistency, efficiency, and accuracy in reporting General Meeting outcomes.

Best b Schools for Finance in India

tanishkatanvee invhyd2@ 2020-01-22

In today’s world, the study of finance can range from corporate finance, financial reporting, financial evaluation, financial regulation, behavioral finance, econometrics, financial modeling, quantitative finance, investment management, investment banking and aspects of accounting.

In order to be job-ready, students need to have an in-depth knowledge of accounting, possess the skill of quantitative research and be able to do analysis while keeping various finance principles and economy in mind.

IMT-Hyderabad is the Best b Schools for Finance in India offers highly competitive and nationally acclaimed results.

If you are an aspiring finance professional, do read on to understand why you will gain a lot from this program.

Top Cloud Based ERP Systems for your Business - Tech Cloud ERP

Tech Cloud ERP 2021-06-08

Tech Cloud ERP systems improves enterprise efficiency and effectiveness in several ways.

By integrating financial data in a single system, ERP software unifies an organization’s financial reporting.Our Cloud Based ERP Software system allows enterprises to reduce the time required to complete implicitly every business process.

They also promote collaboration through shared data formed around common data definitions, resulting in better decision-making.Connect with usEmail: [email protected]: IND: +91 8919439603Website: www.techclouderp.com

Bookkeeping VS Accounting Services: The One That Makes More Sense

Lalia CPA 2020-04-14

Businesses see more and more outsourcing of work on the internet every week. Bookkeeping plays a significant part in the effective operation of a company by ensuring that payments are charged on schedule and that the right payment is collected and not billed twice. Usually, all of these issues are a matter of bookkeeping. Accounting is focused on bookkeeping data, evaluation, collection of data, year-end statements, taxation, budgeting, and financial reporting. Often an accounting firm will outsource bookkeeping duties to qualified bookkeepers (at a cost), as they are not prepared to handle the tedious day-to-day transaction or adjustments. Save your money for when you need an accountant's expertise - utilize the affordable rates a bookkeeping service offers, so you will feel confident, secure, and in control of your business.

Benefits of Automated Accounting Entries Booking

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Integration: Automated accounting entries booking software is usually integrated with the accounting system and other relevant systems, such as the inventory management system, point of sale system, and payroll system. Accuracy: Automated accounting entries booking ensures that the data is accurate and consistent by eliminating manual data entry errors. Customization: Automated accounting entries booking software can be customized to meet the specific needs of the business, such as creating customized reports, alerts, and notifications. Audit Trail: Automated accounting entries booking software keeps a detailed audit trail, which allows for easy tracking and verification of all accounting entries. Cost savings: Automated accounting entries booking reduces the need for manual labor, which can result in significant cost savings for businesses.

Outsource Accounting Data Entry Services To India

Dimple Madan 2021-01-07

Outsource accounting data entry services to India.

Complex data on accounts and financial reporting are difficult to work with.

Partner a reputed company in India and outsource accounting data entry facilities to experts.

Strict formatting principles and other requirements may be recommended to companies.

This will help you sort and locate the data in the future.

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Contact Sage 50 Support Phone Number

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In this article we will discuss about how to Contact Sage 50 Support Phone Number.

Sage 50 is a comprehensive accounting solution for small business.

It provides core functionality, such as A/R and A/P, customer management and financial reporting.

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Goods and Services tax Return Filling in Ludhiana

Santokh Singh & Associates 2020-12-11

What is GST?GST is a break-through in the taxation system as India progresses towards a highly structured system.

Instead of falling prey to the multiple taxation systems, GST has brought in a new era which ensures that taxation system becomes logical, easy to understand and well structured.The Goods and Service Tax (GST) has been a biggest game changing reform in India's Indirect Tax Structure which has rightly attracted the heightened interest from all the stakeholders.

From July 1, 2017 onwards, GST will replace India's current complex Central and State indirect tax structure to create a common market with a seamless indirect tax regime.Goods and Service Tax is one indirect tax for the whole nation on the supply of goods and services, right from the manufacturer to the consumer.

As GST will affect every part of the business of industry from Cash Flows, Financial Reporting, Tax Accounting & reporting, profitability, pricing, supply chain, ERP, contracts redesigning, IT, marketing etc.

GST Registration:GST registration process under the new GST rules is done through an online portal that is maintained by the Central Government of India.

Our experts can get your GST registration done in a short span of time.GST Returns:GST Act mandates every registered entity to furnish details of its sales and purchases including tax paid and collected thereon by filing GST returns Taxpayers must provide correct information to department as the system is designed so that all transactions are in synchronized with each other and no transaction is left unnoticed between buyers and sellers.

How to Prepare Financial Reports under Accounting Standards in Dubai?

BMS Auditing 2023-04-08

I’m an accountant with years of expertise in offering accounting and auditing services for individuals and businesses in the UAE. Throughout my experience, I came across various regulations and accounting standards including GAAP and IFRS. These standards are regularly updated and revised to reflect changes in accounting practices, technology, and business environments in the country. There are two accounting standards that are primarily followed across the worldGAAPIFRSThe IFRS and GAAP differ in their treatment of certain accounting principles, such as revenue recognition, inventory valuation, and the treatment of intangible assets. A financial Report under IFRS Accounting standards in Dubai must include all theseFinancial StatementsReports from the Board of DirectorsReports on Management Decisions & AnalysisAudit ReportsReports on Corporate GovernanceNotes to AccountsProspectusTo read about these in detail, I recommend you reading thisFinancial Reporting under IFRS Accounting Standards in Dubai

FF Academia - ACCA Coaching in Kerala

Michael Oliver 2021-06-25

ACCA Coaching in kerala,ACCA Coaching Classes Benguluru,Best ACCA Coaching Center in kerala,ACCA Onine Courses FF Academia provides ACCA Coaching Classes,ACCA Online Courses,ACCA Training and Certification,ACCA IFRS Courses,ACCA IFRS Certification,ACCA SBR Online Courses.Best ACCA Coaching Center in kerala.ACCA Coaching kerala, ACCA Classes in Benguluru, ACCA Coaching Center in kerala, ACCA Classes in kerala, ACCA Coaching Classes kerala, Best ACCA Coaching in kerala, No:1 ACCA Coaching Center in kerala, Top 10 ACCA Coaching Centers in kerala, ACCA Online Courses, ACCA Training, ACCA IFRS course, ACCA IFRS Certification, ACCA Online Coaching, ACCA Certification Courses, ACCA SBR Online Courses.

Applied Knowledge ExamsAccountant in Business (AB)Management Accounting (MA)Financial Accounting (FA)Applied Skills ExamsCorporate and Business Law (LW)Performance Management (PM)Taxation (TX)Stra tegic Professional (Essentials)Strategic Business Leader SBL)Strategic Business Reporting (SBR)Strategic Professional (Options)Advanced Financial ManagementAdvanced PerformanceManagement (APM)Advanced Taxation (ATX) COURSE STRUCTURE – ACCAApplied Skills Exams CORPORATE AND BUSINESS LAW (LW)PERFORMANCE MANAGEMENT (PM)TAXATION (TX)FINANCIAL REPORTING (FR)AUDIT AND ASSURANCE (AA)FINANCIAL MANAGEMENT (FM) https://wwww.ffacademia.com/

Business and Valuation Standards

Shivani Bedi 2021-05-26

It is nothing but the art of estimating the value of your business for a specific purpose.

In a rapidly advancing financial environment, it is to your advantage to take Business Valuation advisory services.

With a motive to remain in this competitive world, Sapient Services offers excellent Valuation Services.

Our advisory team offers one of the most top-notch valuation services.It involves estimating the economic value of the owner’s interest in the business.

It discusses the value drivers, outlines the analysis performed, along with all inputs and assumptions and incorporates detailed exhibits that support valuation.We provide advises for transactions that need restructuring and divestments for price determination or price negotiation.

Clients’ testimonials have helped us realise that they trust us with our Financing and Strategic Management related advice.

Chief Financial Officer Service (CFO)

nandha@ Kanakkupillai 2021-10-09

The CFO Services in Dubai,refers to a senior executive responsible for managing the financial actions of a company.

The CFO's duties include tracking cash flow and financial planning as well as analyzing the company's financial strengths and weaknesses and proposing corrective actions.

The chief financial officer is the officer of a company that has primary responsibility for managing the company's finances, including financial planning, management of financial risks, record-keeping, and financial reporting.

In some sectors, the CFO is also responsible for analysis of data.

Ultimate Guide To SOX Compliance.

stephen 2021-10-25

Growing incidents of unethical financial practices and increased risk of unauthorized corporate and financial disclosure in the industry was the driving factor behind the establishment of SOX Compliance.

Today, achieving SOX compliance is seen as an industry best financial practice for maintaining a good data security standard.The Act was introduced to bring in a major reform in the security and governance of financial disclosure and further gain public trust and confidence over an organization’s auditing and financial reporting.

The standard aims to govern the financial operations, disclosures, and contracted financial services against any unethical practice.

Elaborating on the requirements of SOX compliance, we have shared some tips that can help organizations like you achieve compliance.

But before heading straight to the compliance process, let us first learn a bit more about SOX Compliance.The Sarbanes-Oxley Act which is also popularly known as SOX Compliance is a standard that protects clients and stakeholders from fraudulent financial activities and disclosures.

The SOX Act outlines compliance requirements for organizations to adhere to and ensure secure business practices.The objective behind enforcing SOX compliance is to improve the accuracy and reliability of financial activities and the corporate disclosures.

Moody’s Analytics RiskCalc™ and CMM™ Solutions Complete SOC 1® Examinations

FinTech Buzz 2020-04-27

Moody’s Analytics announced today that its RiskCalc and CMM solutions have completed System and Organization Controls (SOC 1) Type 1 examinations under the attestation standards established by the American Institute of Certified Public Accountants.These examinations encompassed policies, operating procedures, and controls related to financial reporting of user entities by an independent auditor to objectively validate that Moody’s Analytics meets its declared control objectives.“We are committed to providing our clients with products that deliver exceptional operational compliance,” said Nihil Patel, Senior Director at Moody’s Analytics.

“This SOC 1 Type 1 attestation demonstrates that our RiskCalc and CMM solutions have met this objective.”The RiskCalc solution offers a comprehensive approach to assessing the default and recovery of private firms.

Our RiskCalc models generate forward-looking probability of default or Expected Default Frequency™ (EDF) calculations, loss given default, and expected loss credit measures.The CMM solution is the leading analytical tool for combining property performance forecasts with commercial mortgage fundamentals to assess default and recovery for commercial real estate (CRE) mortgages.

It enables investment professionals to perform robust analyses for equity and debt decisions in CRE.These award-winning solutions deliver best-in-class analytics that help our customers make better decisions.Moody’s Analytics, Moody’s, and all other names, logos, and icons identifying Moody’s Analytics and/or its products and services are trademarks of Moody’s Analytics, Inc. or its affiliates.

Third-party trademarks referenced herein are the property of their respective owners.