African Tax Forum
An organization established in 2008 to promote and facilitate the mutual cooperation of African tax authorities
and other stakeholders to improve the efficiency of tax legislation and the tax administration. One
of the areas of AFP interest are related party transactions, in particular the procedures for their settlement.
A share is a security issued by a joint stock company and represents a part of its share capital. It is the most important of the equity instruments used to transfer capital. Shares are divided into: registered shares, bearer shares, ordinary shares, and privileged shares.
Assets are assets controlled by the entity with a reliably determined value, arising from past events, which will result in an inflow of economic benefits to the entity in the future.
Assets can be divided into:
- current assets (current assets),
- fixed assets (fixed assets).
Fixed assets are assets committed to the entity on a long-term basis, at least for a period longer than 12 months, with the period running from the balance sheet date. Fixed assets are characterized by a low degree of liquidity.
The group of fixed assets includes:
- intangible assets,
- tangible fixed assets,
- Long-term receivables,
- long term investments,
- Long-term prepayments.