Abu Timam Grant Thornton

The International Accounting Standards Board (IASB) has issued some changes to IFRS 9, IFRS 7 and IFRS 19 to help businesses apply these standards to contracts for renewable energy. Find out how it affects your power purchase agreements in our latest update. https://grnt.tn/vnx

Our ‘Insights into IFRS 2’ series is aimed at demystifying IFRS 2 by explaining the fundamentals of accounting for share-based payments using relatively simple language and providing insights to help entities cut through some of the complexities associated with accounting for these types of arrangements. This article discusses the basic principles that apply to both equity-settled and cash-settled share-based payment transactions with employees or others providing similar services.

Get ready for IFRS 18 ‘Presentation and Disclosure in Financial Statements’! This publication sets out a high-level overview of IFRS 18’s new requirements, along with practical insights into the application challenges. For some entities in particular, this will highlight the need to begin their transition journey early, and ensure that they are fully prepared for mandatory application from 1 January 2027, with retrospective restatement of comparatives.

We are pleased to share the Tax Newsletter for the month of November 2024. Do reach out to your usual contacts from our tax team for any clarifications. For inquiries or RFPs, please contact us at info@om.gt.com

We are pleased to share the Tax Newsletter for the month of October 2024. Do reach out to your usual contacts from our tax team for any clarifications. For inquiries or RFPs, please contact us at info@om.gt.com

We are delighted to announce the successful completion of our annual independence training at our Muscat office. This session reinforced our unwavering commitment to upholding the highest ethical standards and ensuring strict compliance with independence regulations. By focusing on practical case studies and key principles, our team is well-prepared to continue delivering objective, unbiased services to our valued clients. A special thanks to Muhammad Ali Fazli for his insightful presentation, and to all our staff for their active participation and engaging discussions!

Abu Timam Grant Thornton is excited to announce that our BPS (Accounting and Outsourcing) team successfully delivered an engaging workshop for the SheEO Society at Regus, Hormuz Grand Hotel! We focused on empowering new business owners with essential accounting knowledge, covering key topics such as: - The importance of accounting for business growth - How to interpret financial statements - An overview of popular accounting software tools It was a fantastic experience to see enthusiastic entrepreneurs eager to enhance their financial acumen! A big thank you to all participants for their active involvement. #Accounting #NewBusiness #Entrepreneurship #FinancialLiteracy #BusinessGrowth

Need assistance with preparing your 2024 annual IFRS financial statements? Explore our publication, featuring illustrative disclosures and relevant IFRS paragraph references for each disclosure. For inquiries or RFPs, please contact us at info@om.gt.com

We are pleased to share the Tax Newsletter for the month of September 2024. Do reach out to your usual contacts from our tax team for any clarifications.

Abu Timam Grant Thornton Tax Services team successfully delivered a workshop for SheEO Society participants on VAT, offering insights on topics such as registration, returns, adjustments, refunds, and more.