The GOB utilizes Overseas Financial Reporting Standards (IFRS) included in its utilization of Generally Accepted Accounting axioms (GAAP).
Bahrain’s sector that is industrial dominance by state-controlled organizations such as for example Aluminum Bahrain (ALBA) and Gulf Petrochemical Industries business (GPIC). De facto monopolies additionally occur in certain companies led by people or family-run organizations.
The GOB utilizes Overseas Financial Reporting Standards (IFRS) included in its utilization of generally speaking Accepted Accounting maxims (GAAP). IFRS are used by domestic detailed and unlisted businesses in their consolidated economic statements for outside reporting that is financial.
Bahrain adopted Overseas Accounting Standard 1 (IAS 1) in 1994 within the lack of other neighborhood requirements. Non-listed banking institutions along with other businesses utilize IASs within the planning of monetary statements.
The 2001 Bahrain Commercial organizations Law requires each authorized entity to create a stability sheet, a profit-and-loss account additionally the director’s report for every year that is financial. Leggi tutto ›