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…

Financial reports may be used by different stakeholders for a multitude of purposes. Owners and managers require financial statements to make important business decisions affecting its continued operations. Financial analysis is then performed on these statements, providing management with a…

Fundamental accounting refers to the basic principles of accounting. 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…

Value Added Tax (VAT) is a tax on consumption levied in the United Kingdom by the National Government. Having the right information can help you save on taxes. It was introduced in 1973 and is the third largest source of…

Accounting 1 on 1 is very benificial to understanding and utilizing financial statements. 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…