CAPA publications are translated into the Georgian language

On the initiative of SARAS, with the permission of the Confederation of Asian and Pacific Accountants (CAPA) and with support of the World Bank, CAPA publications for professional accountancy organizations were translated into the Georgian language

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“What to be considered while submitting financial statements in 2020” – an online meeting was held by SARAS 

The meetings intended for the III category entities aimed at discussing the errors in the submission process of financial statements and the amendments to the reporting format 

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European Parliament Adopted Report on Georgia’s Association Agreement (AA) Implementation

In the report, European Parliament assumes transparency as a key basis for the development and improvement of the investment climate and underlines the importance of structural reforms in this area

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It is not mandatory for the IV category entities to submit their financial statements in 2020

The IV category entities may, on a voluntary basis, submit their 2019 financial statements prepared in accordance with the simplified financial reporting standard or any other standard of higher rank permitted by law

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International Financial Reporting for Non Profit Organizations – Georgia is becoming a participant of an international project

The project is initiated by Humentum and CIPFA and aims at developing internationally applicable financial reporting standard for Non Profit Organizations (NPOs)

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In which case are the I and II category entities allowed to use the simplified rule to write off the damaged/spoiled inventories

According to the amendment of the Order N994 of the Minister of Finance of 31.10.2010, I and II category entities (if they meet certain requirements) will be able to use the simplified rule to write off the damaged/spoiled inventories 

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