IFRS Implementation

IFRS Implementation

GSPU being a Top IFRS firm in Bahrain prepares and presents financial statements for its clients following International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS) with the Best IFRS Services in Bahrain. Different countries’ accounting principles have evolved, making international company comparisons difficult. A set of guidelines and rules are used to ensure uniformity and comparability between financial statements prepared by different companies. These guidelines, known as Generally Accepted Accounting Principles (GAAP), serve as the foundation for the preparation of financial statements.
The International Accounting Standards Board (IASB) has recently made a push to standardize accounting rules. The IASB creates International Financial Reporting Standards (IFRS), which are widely used in many countries.
Over 100 countries currently permit or require IFRS for public companies, with more countries expected to follow suit in the coming years availing the Best IFRS Services in Bahrain from a Top IFRS firm in Bahrain.

IFRS underlying assumptions:
The effect of transactions and other events is recognised when they occur, rather than when cash is gained or paid.
1. Going Concern: an entity that will continue to exist soon.
2. Stable Measuring Unit Assumption: financial capital maintenance in nominal monetary units or traditional Historical cost accounting; i.e., accountants regard changes in the purchasing power of the functional currency up to but excluding 26% per annum for three years in a row (which would be 100% cumulative inflation over three years or hyperinflation as defined in IFRS) as immaterial or insufficiently important for them to choose financial capital maintenance in unit price.
GSPU has qualified and skilled people with the experience to do things correctly and follow International Standards for an effective IFRS convergence and implementation activity.

How GSPU can help

Aids young talent follows their dreams of starting their businesses

The GSPU group has created a distinct platform for the whole startup ecosystem to find a viable solution for both investors and promoters.

Builds a structurally solid web experience for your business

Your website serving as an online representation of your company GSPU can make maximum use of digital technologies to grow your business.

Creates your online marketing strategy

GSPU Consultancy will help you develop an internet marketing plan that will attract more qualified visits to your site and convert them into leads.

Protects Intellectual property rights in Bahrain for Small, medium and large organizations

GSPU can assist you with trademark registration which gives your logo to be identified in its goods or services from those of its competitors.

Assistance, Advisory and Support Services for NRI’s/PIO/OCI

Following DTAA and domestic laws, GSPU supports, advises, and helps you with your NRI regulations, tax residency status determination in India, and tax responsibility that results.

Develops a Standard Procedure to improve quality output and performance consistency

GSPU's Step-by-step instructions suit the organizational environment and can help workers carry out complex routine operations.

Contact us

+973 -38393646


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