Nepal has adopted accounting standards issued by the Nepal Accounting Standards Board (NASB). These standards are largely based on International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB), with necessary modifications to suit the Nepalese context and legal framework. The Nepal Accounting Standards (NAS) aim to enhance transparency...
The Nepal Financial Reporting Standards (NFRS) serve as a common global language for business affairs within Nepal. These standards ensure that company accounts are comparable, understandable, reliable, and relevant to internal and external users. Here are some key points about NFRS: Scope and Purpose: NFRS provides guidelines for maintaining books of accounts by accountants. The goal is to...
The Nepal Accounting Standard for Micro Entities (NAS for MEs) simplifies financial reporting for small businesses in Nepal, ensures compliance with the country’s accounting framework, and reduces the complexity and administrative burden. This standard aims to make financial reporting more accessible and practical for micro-entities, which often have limited...
Company Registration Process in Nepal Company Registration in Nepal involves several steps and adherence to the Office of the Company Registrar (OCR) regulations under the Ministry of Industry, Commerce, and Supplies. Here’s a brief description of the process: Step 1: Determine the Type of Company Private Limited Company: Most common, ideal for small to medium-sized businesses. Requires at...
Although Nepal’s Foreign Direct Investment (FDI) has been growing over time, it is still relatively small compared to other countries in the region. The Nepalese government is working hard to attract more FDI to support economic growth. Various industries, such as manufacturing, services, tourism, hydropower, and agriculture, offer opportunities for international investment. The Nepalese...