Blogs about accounting service

Preparation of financial statements

28 April 20240

It is necessary to go through various stages for the preparation of financial statements. In this article, we talked about these stages and the importance of financial statements. Why is it necessary to prepare financial statements? Financial statements are important documents for measuring the financial and economic performance of a company. Financial reporting, measuring the company's financial health, tracking income and expenses, minimizing expenses and properly planning, organizing revenue growth,...

Business terms

What Are ERP Systems?

24 April 20240

Businesses need an efficient and integrated management system to grow and develop. ERP systems stand out here. Through these systems, important processes such as project management, monitoring of production processes, risk management and so on are managed through a single software. This article explains what ERP systems are and why they are so important to your business...

Legislation

Cases of termination of the employment contract by the employer

21 April 20240

Labor relations are regulated by the Labor Code. The employment contract can be terminated only in the cases and in the manner determined by the Labor Code. In what cases can the employment contract be terminated? According to the Labor Code, the following are grounds for termination of the contract: Initiative of one of the parties - employer or employee; Expiration of the time specified in the employment contract; Changing the conditions of working conditions; The owner of the enterprise...

Business terms Legislation

Funds and property of the joint-stock company

12 April 20240

The charter fund of the company The minimum volume of the charter fund of open-type companies is 10 million manats, and the minimum volume of the charter fund of closed-type companies is determined in the amount of 5 million manats. The amount of the charter fund must be formed within one year and the shares must be state registered. According to the decision of the general meeting of shareholders, the amount of the charter fund can be changed. General meeting on this issue...

Business terms

What is a joint stock company and how is it established?

08 April 20240

A joint-stock company means an enterprise created on the basis of a voluntary agreement of individuals or legal entities to carry out economic activity. The authorized fund of this enterprise is formed by issuing shares. Establishment and activity of joint stock company is regulated by the Law of the Republic of Azerbaijan "On Joint Stock Company". What forms of joint stock company are there? The joint-stock company is open and closed type, 2...

Tips

The most common mistakes made in accounting

31 March 20240

Unwitting mistakes in accounting can lead to serious losses for a business. Failure to keep track of legal changes, malfunctions in automated systems, poor controls, problems in accounting operations are some of these errors. In this article, we will talk about the most common accounting mistakes and their consequences. Error in management Internal and external audit problems. Insecurity of external parties. Financial statements that are not prepared correctly and accurately...

Legislation

Accounting of income and expenses by the cash method

27 March 20240

The cash method is one of the 2 main methods of accounting for income and expenses. In this article, you can get information about the basic principles of accounting with the cash method, the timing of income and expenses. The procedure for accounting of income and expenses, according to Article 130.1 of the Tax Code, the taxpayer, based on documented information, for the purpose of accurate reflection of taxable income (profit)...

Business terms Legislation

What is a dividend?

23 March 20240

Dividend is the distribution of the net profit of a legal entity in favor of its shareholders (founders) or shareholders, as well as the distribution of assets (property) formed at the expense of the net profit when the legal entity is liquidated, as well as money related to the redemption of shares (shares) within the limits of the nominal value increased by the net profit. or payment made in the form of other payments. In terms of net profit, simplified taxpayers...

Tips

What do consulting services bring to companies?

20 March 20240

Consulting services are defined as the identification of gaps in its internal management systems for business development, the company's financial and tax planning, services related to legal issues, budget management, and providing professional support services. Let's take a closer look at these services. Tax planning. Sometimes, even though there are certain tax advantages and exemptions, companies are not aware of it....

Legislation

Current tax payments

18 March 20240

Current tax payments must be paid to the state budget by individual entrepreneurs and legal entities no later than 15 days after the end of the quarter. Municipally owned organizations and enterprises pay profit tax to the local budget. The amount of each payment is 1/4 of the tax calculated in the previous tax year. Special notaries with rate 10% determined by Article 101.4 of the Tax Code...

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Blog

Preparation of financial statements

What Are ERP Systems?

Cases of termination of the employment contract by the employer

Funds and property of the joint-stock company

What is a joint stock company and how is it established?

The most common mistakes made in accounting

Accounting of income and expenses by the cash method

What is a dividend?

What do consulting services bring to companies?

Current tax payments

05 July 2024Opening accounts for taxpayers

26 June 2024Features of the accountant profession

19 June 2024What is an LLC and how is it established?

12 June 20245 key principles of financial reporting for businesses

05 June 2024Benefits of accounting for entrepreneurs

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