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Dealing With Work-Related Stress

The feeling of stress at the workplace can be caused by various factors, possibly: Difficult interpersonal work or client relationships. Time limitations. Resource limitations. Complex tasks. Risk management. A combination of the above. With healthy work relationships, the effects of stress are diminished. Rather, stress appears similarly as a storm at sea – stressful periods are prone to occur but then do pass. Remedies To...
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[Leases – Article 4/5] Accounting For Leases After 2018 – Other Common Situations

Posted on26 Mar 2020
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Determining Direct Costs Direct costs are incremental costs that are incurred in the process of obtaining the lease. Other costs incurred irrespectively of whether the lease contract is entered into or not are not considered to be initial direct costs. Direct costs incurred at the initial stage of the lease are accounted for as part of the right of use asset. An example of a...
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Article: The Accounting Implications of Covid-19 from an IFRS and GAPSME perspective

Posted on22 Mar 2020
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Author: Paul Zammit & John Debattista On March 11, 2020, the World Health Organisation (WHO) officially declared that COVID-19 can be characterised as a ‘pandemic’. A pandemic is a strong, exceptional form of epidemic, in terms of its geographic reach. Whilst the health-related implications of a pandemic can be read in the WHO’s official communication in this link, the economic pinch of efforts made to...
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Article: ZD Academy Seminars 2020 – Right of Deduction

Posted on17 Mar 2020
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Date: Thursday 27th February 2020 Author: Brandon Gatt The deduction system inherent  in the EU VAT Law has been designed to relieve businesses from the burden of the VAT payable or paid in the course of their economic activities. It also promotes tax neutrality. The common system of VAT ensures that all economic activities are taxed in wholly neutral way. This is based on the...
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Article: ZD Academy Seminars 2020 – (VAT)

Posted on09 Mar 2020
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Topic: Chain Transactions Date: 5th February 2020 Author: Charles Vella The seminar covered one of the measures set out in the so called “Quick Fixes” amendments introduced in the VAT Directive with effect from 1st of January 2020, and specifically the “VAT treatment of cross-border chain transactions”. The new rules are intended to settle in clear terms the issue of which one of the successive...
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Article: ZD Academy Seminars 2020 – Accounting for Cryptographic Assets

Posted on05 Mar 2020
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Date: Wednesday 26th February 2020 Author: Paul Zammit Over the past months, pronouncements and guidance in relation to the accounting for cryptographic assets have been released. Cryptographic assets include the following broad categories: Cryptocurrencies, such as Bitcoin, which could be held by an entity on its own behalf or on behalf of its customers. Other cryptographic assets. Other cryptographic assets include: Security tokens, which are...
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[Leases – Article 3/5] Measurement of Right-Of-Use Asset and Lease Liability

Posted on28 Feb 2020
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As discussed in a previous article, under IFRS 16 ‘Leases’, the lessee capitalises lease transactions as a right-of-use asset and a corresponding lease liability, unless the transactions relate to short term leases or low value leases, in which case the lease is expensed. The next question to answer is: how do we measure the right-of-use asset and the lease liability? This depends largely on the...
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