Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Siyara LLC Jordan's largest app-based transport service where the customers can book their transportation cab using their mobile application Siyara LLC is serving 85 cities

image text in transcribed
Siyara LLC Jordan's largest app-based transport service where the customers can book their transportation cab using their mobile application Siyara LLC is serving 85 cities across Jordan, Lebanon, Turkey, and Iran. The Siyara app offers service as it integrates the cab drivers and customer under one platform and a with a wide range of vehicles across bikes, metered taxis, and cabs, enabling convenience and transparency for thousands of customers and over 0.20 thousand driver- partners. Siyara's core mobility offering in Jordan is supplemented by its electric vehicle arm, Siyara Electric; Jordan's largest convoy management business, Siyara convoy Technologies and Siyara Skillinga that aims to enable millions of livelihood opportunities for Jordan's working population. Recently the Siyara noted that it is on target to reach OMR5 Million in booking for the year 2020. The company defines booking as the total amount of fare paid by the customers. But the company keeps only a little share of the amount received from the customer. Actually, the Siyara LLC company receives only 30 cents for every dollar received from the customer. The rest 70 cents is shared with associate drivers and other technology providers. The Siyara LLC, in a news article published full booking value as an achievement of its target as OMR5 Million, the figures mean a lot in the investment market. Users are carried away by the figures depicted on various sources. The investors shall be cautious while understanding the number and must get numbers from the correct source Required i Identify the core issue related to financial reporting from the above case Justify your argument. What characteristics that the Siyara LLC financial information shall have to make it more useful. Justify your

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Fundamentals In A South African Context

Authors: Gerrit Penning, Rika Butler, Pieter Von Wielligh, Frans Prinsloo

2nd Edition

0190749040, 978-0190749040

More Books

Students also viewed these Accounting questions