BEGINNING January 1, 2009, a new accounting interpretation will be in effect, changing the scenario of how real-estate companies worldwide recognize their revenues on projects.  From the current practice of booking the income from real-estate sales using the percentage of completion method, the International Financial Reporting Interpretations Committee (Ifric) has ruled that contracts to sell [...]

Tax analyst: ‘Tens of thousands of people could be in line for a refund’
WASHINGTON - It took seven years, but Charles Ulrich did something many people dream about, but few succeed at: He beat the IRS in a tax dispute.
Not only that, but tax experts say potentially millions of other taxpayers could benefit from his [...]

Chennai: To the lay, IFRS may sound like a cross between Indian foreign and revenue services, if not a flying rapid system. But to accountants, who are in the professional loop, the abbreviation stands for the International Financial Reporting Standards, the global yardsticks that will soon come into vogue, in the world of business numbers [...]

Simplicity is key when it comes to making the tax system understandable
Significant simplification is urgently required to restore some sense to the tax system. Surely the tax code should be understandable by those who need to interpret it to determine their tax liability?
Here’s a suggestion for two reforms that could produce a simpler tax system, [...]

The main focus of consulting with an Accountant when getting a new business underway is to help establish, right from [...]