PETTERSON&BENNETT

  Have tax liabilities overburdened you anyways? It’s time for tax due diligence. Yes, it is a crucial part of the purchase process that helps to understand the tax profile of the target. If you don’t know what is it? Then don’t worry! In this blog, we will discuss in detail what tax due diligence is, and why it is carried out. So, without further ado, let’s get started! What is Tax Due Diligence and Why is it Important? Tax due diligence is a comprehensive examination that covers various types of taxes imposed on a business and tax jurisdictions to which the business is subjected to. Here the tax returns filed by the individual and businesses are taken into consideration for crucial insights into businesses’ wealth status. It is an important aspect when a business is under scrutiny. You can consider this as one of those unavoidable expenses that are significant to ascertain the practices a business is implementing, considering the costs and risks associated before compl...

 Before going any further, let us comprehend the definition of accounting outsourcing and payroll outsourcing. Well, accounting outsourcing is a type of service given to small businesses. That service will take care of all day-to-day accounts receivable, accounts payable, payroll, transaction coding, management financial reporting, and several other things. So, if you are living in Ukraine and thinking of opting for accounting outsourcing Ukraine , you are in the right place.  Now, we will fathom the definition of payroll outsourcing services. Well, it is also a type of service that deals with the compliance and administrative functions of the employees, who are paying. Well, you must note that this service doesn't serve the purpose of a local employer in the case of a foreign company. Therefore, it is the definition of both payroll outsourcing services and accounting outsourcing.  Some of the benefits of accounting outsourcing and payroll Well, there...

The full form of IFRS stands for International Reporting Financial Standards. Well, IFRS covers a vast range of accounting activities. If you dig out a bit, you will find out that there are some specific fields of businesses where IFRS rules are required. So, here are the requirements that we are talking about. Going through the requirements will help you to understand the matter precisely. · Statement of financial position Well, in other words, it is known as balance sheets. The purpose of IFRS is to influence the components, which are responsible for the reports of a balance sheet. Therefore, you can understand the significance of IFRS. · Statement of comprehensive income One can consider it as the form of one statement. Besides, you can also divide it into profit and loss statement. Also, it will serve the purpose of the statement of other income that comprises of property and equipment. · Statements of changes in equity In other words, it is also known ...