There is a long standing joke that if you ask an accountant what is two plus two you will most likely hear « what would you like it to be? ». That does not mean that accountants are not honest people, it is just that there exists mechanisms within the profession such as inventory valuation methods and depreciation methods which would have different effects on your financial statements. However that is not a problem in itself. The standards are not what is hampering our profession. My main issue especially in West Africa is that the notion of working for the greater good of the public has been a non existent factor in our profession. This profession is not just accounting but public accounting. This so important factor « the public » is often forgotten until some disastrous event happens and then policy makers try to right the wrongs.Détails
The fundamental accounting principle of the Going Concern assumption assumes that, a company will continue to exist long enough to carry out its objectives and commitments and will not liquidate in the foreseeable future (12 months). This series of papers will analyze the main going concern threat within our local environment which in my opinion is the usurious nature of fiscal legislations. This first part will focus on the latest amendment of the Alternative Minimum Corporate Tax (AMCT) or Impot Minimum Forfaitaire (IMF).