EEA and UK Accounting: Accounting for Companies operating in the United Kingdom (UK) and European Economic Area (EEA) EEA and UK accounting: how companies incorporated in the UK or where the parent company is incorporated can comply with UK reporting and accounting requirements. Following the modifications to the UK’s corporate reporting system, a small number of companies have been affected by changes in the UK’s corporate reporting system. Preparing the annual accounts for companies in the United Kingdom For financial years starting on or after January 20, 2021, all companies must use the ..read more

UK and EEA Audits: A useful guide for the auditors in United Kingdom (UK) and audit firms operating in the European Economic Area (EEA) UK and EEA Audits guidance for UK auditor firms, UK auditors, and UK-qualified audit professionals operating in the EEA. UK and EEA Audits Recognizance of UK Audit Qualifications in EEA Countries. It is possible that your UK qualification will not be recognized in EEA countries. To find out the status of your registration, you should contact the competent authority in which you are registered. United Kingdom (UK) audit firms auditing EEA companies. An a ..read more

UK Income Tax: Individuals with international income have different tax rules in the United Kingdom for the income tax. There are many types of taxation in Britain, but the most popular is the UK Income Tax. HMRC Tax Collection Through the HMRC, the government collects income taxes. The HMRC also collects taxes on income, including council tax, VAT, and National Insurance Contributions. Refusing to pay any of these taxes can result in a sentence of imprisonment or a fine. The tax in most cases will be less than the property’s value. ATED taxation in the UK ATED is a tax that applies to high ..read more

External Audits in the USA: Audit requirements for companies in the United States, and the generally accepted accounting principles (GAAP) for private and public companies. Private companies have fewer disclosure requirements when it comes to external audits in the USA than publicly listed firms, so their audit standards are less strict. Small privately owned businesses, for example, don’t come under the scrutiny of the Securities and Exchange Commission(SEC), which is one of many agencies that set standards for public companies. Accounting regulators are now attempting to resolve the imbala ..read more

US GAAP Accounting: The Generally Accepted Accounting Principles (GAAP) in the United States of America, and how to conform with the US accounting principles. The US GAAP Accounting and financial reporting is the language used to communicate information about the financial and operational condition of a company, whether a public or private, not-for-profit organization or state or local government. Financial reporting includes, in particular, the financial position (balance sheets, statements of net position), and the results from operations (statement revenue, expenses, changes in net positi ..read more

USA Corporate Tax: Read this useful guide about how to the get your corporate income tax in order, and the main tax credits and tax deferrals that could apply to your entity in the United States or worldwide. All entities that are treated as corporations are subject to the USA corporate tax at the federal level. In the United States, 47 states and the District of Columbia also impose the corporate tax. Some localities also impose an income tax on corporate income. All domestic corporations are subject to the USA corporate income tax, as well as foreign corporations with income or activities ..read more

USA Income Tax: A helpful guide of the individuals income tax in US, and how is working the taxation system in the United States Every United States business operating in the global economy must be aware of the differences between international and U.S. accounting practices. All businesses around the globe need to accurately report their assets, liabilities, and expenditures in order for potential investors, creditors, and other stakeholders to assess their financial health. A summary of the income tax, and taxation system in the US In 2021, 41 states and the District of Columbia imposed a bro ..read more

Ireland Accounting Standards: The most notable points about the application of International IFRS, Irish FRS 102 accounting standards, and the aligned requirements in the Republic of Ireland. Financial reporting continues to change, but it is changing big for the Ireland Accounting Standards reporting. Read about a new framework of Ireland Accounting Standards to be considered. The Financial Reporting Standard in the UK and Republic of Ireland FRS102 was published by the Financial Reporting Council on 14 March 2013. This standard is applicable for periods starting after January 201 ..read more

Accounting in Ireland: The Republic of Ireland accounting system and the major differences between Ireland and International Accounting Standards. The regulatory body for the companies accounting in Ireland is the Irish Auditing and Accounting Supervisory Authority. The Irish companies are not required to use a company schedule, but it is important that company owners obtain approval for financial statements within nine months of the company’s inception. Companies with unlimited status will soon be approved and they won’t have to file their accounts. Companies with limited liability stat ..read more

Company Audit in Ireland: This article explains the Republic of Ireland auditor report, solutions for extensions of the time for filing, and signing the final statutory auditor report. The company audit in Ireland must report to members in conformity with section 336 Companies Act 2014. An overview about the company audit in Ireland The reports of the company audit in Ireland must state: Whether the accounting records of their company were sufficient to allow the financial statements to easily and properly be audited. Whether they have all the information and explanations that are required ..read more