Question
As the banks and insurance companies in Oman are listed as public companies. They are regulated by Capital Market Authorities. The Capital Market Authority has
As the banks and insurance companies in Oman are listed as public companies. They are regulated by Capital Market Authorities. The Capital Market Authority has adopted IFRS for financial reporting purposes for the companies listed on Muscat Securities Exchange.
Identify and discuss in brief IFRS followed by Banking and Insurance companies in Oman.
[ List the IFRS and evaluate its objective with respect to bank’s and insurance company’s financial reporting. – 800 words +/- 5%]
Step by Step Solution
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Step: 1
Government of Oman has set up the Accounting Standards Committee ASC in 2006 to define and publish the IFRS financial standards As per the ASC all listed companies are required to follow the Internati...
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Financial Reporting and Analysis
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
6th edition
9780077632182, 78025672, 77632184, 978-0078025679
