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Comprehensive Guide to IFRS 15: Revenue from Contracts with Customers

January 21, 2025by Dr Dawkins Brown

Revenue recognition is a cornerstone of financial reporting, directly impacting an entity’s financial health and stakeholder trust. IFRS 15, Revenue from Contracts with Customers, revolutionizes the approach to revenue recognition by introducing a uniform framework applicable across all industries. This article explores the five-step model at the heart of IFRS 15, its industry implications, challenges,...

Accountants and accounting firm accounting firm International auditing standards (ias)The International Accounting Standards Board (IASB)The International Financial Reporting Standards

How to Calculate Bad Debt Provision Under IFRS 9: A Comprehensive Guide for Receivables vs. Loans

January 21, 2025by Dr Dawkins Brown

IFRS 9 introduced the Expected Credit Loss (ECL) model to replace the incurred loss model for bad debt provisioning. The ECL model is a forward-looking approach that incorporates historical, current, and future economic data to estimate credit losses. While the principles of the ECL model apply universally, there are distinct approaches when calculating bad debt...

Accountants and accounting firm accountants and auditors Accountants and Auditors in Kingston Jamaica accounting firm Accounting Software AML Audits:Audit and Assurance Services Audit firm

Dawgen Global: Your Trusted Partner for Auditing and Accounting Services in Jamaica

January 17, 2025by Dr Dawkins Brown

At Dawgen Global, we are dedicated to providing top-notch professional services that empower businesses to achieve financial clarity, compliance, and operational excellence. With a presence in Jamaica and across the Caribbean, Dawgen Global is a globally integrated multidisciplinary professional service firm offering a wide array of services, including audit, accounting, tax, IT, risk management, and...

Accountants and accounting firm accountants and auditors Accountants and Auditors in Kingston Jamaica accounting firm Accounting Software

Are Audit Firms and Accounting Firms the Same Thing?

January 11, 2025by Dr Dawkins Brown

The terms “audit firms” and “accounting firms” are often used interchangeably, creating confusion for business owners, entrepreneurs, and even seasoned professionals. While there are areas of overlap between the two, the core functions, responsibilities, and regulatory frameworks of audit and accounting firms differ significantly. Understanding these distinctions is crucial for businesses seeking the right professional...

Accountants and accounting firm accountants and auditors Accountants and Auditors in Kingston Jamaica accounting firm Accounting Software Advisory Services

Streamlining Year-End Accounting: A Comprehensive Checklist for Financial Accuracy and Compliance

January 11, 2025by Dr Dawkins Brown

As the fiscal year draws to a close, accounting professionals face the formidable task of finalizing financial records, ensuring compliance, and preparing for the upcoming year. A structured year-end accounting checklist is essential to navigate this period efficiently and accurately, mitigating risks and setting the stage for a seamless transition into the new financial year....

Accountants and accounting firm accountants and auditors accounting firm Audit and Assurance Services Audit firm The International Accounting Standards Board (IASB)The International Financial Reporting Standards

The Evolving Role of NFRA in Regulating Auditing Standards: Implications for the ICAI and Quality Management

January 2, 2025by Dr Dawkins Brown

The recent clarification by the Solicitor General of India (SGI), Tushar Mehta, has reaffirmed the boundaries of authority between the National Financial Reporting Authority (NFRA) and the Institute of Chartered Accountants of India (ICAI). This pivotal decision highlights a defining moment in the governance of auditing and quality management standards in India. The implications of...

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The Distinction Between Legitimate Tax Planning and Tax Evasion: Key Insights from a Landmark ITAT Ruling

December 28, 2024by Dr Dawkins Brown

The Income Tax Appellate Tribunal (ITAT) in Mumbai recently delivered a pivotal judgment that reaffirmed taxpayers’ rights to engage in legitimate tax planning while delineating its boundaries from tax evasion. This landmark ruling not only clarified the nuances of tax law but also emphasized the importance of compliance and transparency in financial planning. The Case...

Accountants and accounting firm accountants and auditors accounting firm Advisory Services

The Time Value of Money: Why Money Today is Worth More Than Tomorrow

December 16, 2024by Dr Dawkins Brown

The Time Value of Money (TVM) is one of the cornerstones of finance and economics, offering insights into how we make decisions about money. At its core, the principle is simple: a dollar today is worth more than a dollar tomorrow. While this seems intuitive, the underlying reasons for this truth reveal much about human...

Accountants and accounting firm Accountants and Auditors in Kingston Jamaica accounting firm Advisory Services AML Audits:

The Auditor is a Watchdog, Not a Bloodhound: Relevance in Modern Commerce

December 8, 2024by Dr Dawkins Brown

The famous statement by Lord Denning, “The auditor is a watchdog and not a bloodhound,” has long been a cornerstone in the philosophy of auditing. For decades, this phrase has shaped how auditors perceive their role and how society expects them to function. But with the rapid changes in the business world, from technological advancements...

accounting firm Tax Firm Tax Planning Services Taxation Services

Adapting Taxation in a Transforming Economy: Insights from the OECD’s Consumption Tax Trends 2024

November 24, 2024by Dr Dawkins Brown

The OECD’s “Consumption Tax Trends 2024″ report provides a detailed exploration of consumption tax policies across its member countries, highlighting Value Added Tax (VAT), Goods and Services Tax (GST), and excise duties. As global economies evolve, so must tax systems. The report offers critical insights into how consumption taxes are structured, their efficiency, and how...

Older Posts

Comprehensive Guide to IFRS 15: Revenue from Contracts with Customers

How to Calculate Bad Debt Provision Under IFRS 9: A Comprehensive Guide for Receivables vs. Loans

Dawgen Global: Your Trusted Partner for Auditing and Accounting Services in Jamaica

Are Audit Firms and Accounting Firms the Same Thing?

Streamlining Year-End Accounting: A Comprehensive Checklist for Financial Accuracy and Compliance

The Evolving Role of NFRA in Regulating Auditing Standards: Implications for the ICAI and Quality Management

The Distinction Between Legitimate Tax Planning and Tax Evasion: Key Insights from a Landmark ITAT Ruling

The Time Value of Money: Why Money Today is Worth More Than Tomorrow

The Auditor is a Watchdog, Not a Bloodhound: Relevance in Modern Commerce

Adapting Taxation in a Transforming Economy: Insights from the OECD’s Consumption Tax Trends 2024

February 8, 2025Generative AI vs. Traditional AI: What CEOs Need to Know

February 8, 2025The Digitalisation of Accounting Processes: A Key Lever for Business Optimisation

February 8, 2025The Critical Role of Audit in Building a Fair and Prosperous World

February 8, 2025Navigating Complex Transfer Pricing Challenges with Global Expertise

February 8, 2025The Importance of a Skilled and Independent Advisor in Business Valuation

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