What is OHADA accounting plan?

Abstract. OHADA accounting plan is a regulatory framework of accounting applicable in states which are part of the OHADA treaty. OHADA is a system of business laws and implementing institutions adopted by seventeen West and Central African nations. The OHADA Treaty is made up today of 17 African states.

What are the objectives of OHADA?

OHADA’s mission is the harmonization of Business Law in Africa in order to guarantee legal and judicial security for investors and companies in its Member states. In this way, the Treaty’s main objective is to address the legal and judicial insecurity in Member States.

What is OHADA Uniform Act?

OHADA: Revised Uniform Act on Commercial Companies and Economic Interest Groups. Companies which have been set up before the entry into force of the Revised Uniform Act shall update their articles of association within the next two years to ensure that they comply with the provisions of the Revised Uniform Act.

What are the institutions of OHADA?

OHADA includes four institutions: the Council of Ministers of Justice and Finance which is the legislative body, • the Common Court of Justice and Arbitration, based in Ivory Coast (Abidjan).

What is the minimum cash system?

Definition. A minimum cash balance enables companies to avoid cash shortages caused by cash outflows exceeding cash inflows in a given accounting period. It is the lowest amount of cash a company keeps on hand to meet cash maintenance and planning objectives.

What are accounting principles?

Accounting principles are the rules and guidelines that companies must follow when reporting financial data. The Financial Accounting Standards Board (FASB) issues a standardized set of accounting principles in the U.S. referred to as generally accepted accounting principles (GAAP).

Whats the meaning of OHADA?

OHADA is the French acronym for “Organisation pour l’Harmonisation en Afrique du Droit des Affaires”, which translates into English as “Organisation for the Harmonization of Business Law in Africa”. It was created on October 17, 1993 in Port Louis, Mauritius. The OHADA Treaty is made up today of 16 Africans states.

Is Nigeria part of OHADA?

OHADA is now made up of 17 member States, from Central to West Africa, members of the Monetary and Economic Community of Central Africa (MECCA) and Economic Community of West Africa (ECOWAS), even if some member States of ECOWAS are not members of OHADA (e.g. Nigeria, Ghana, Sierra Leone and Liberia, which are English …

What is a uniform act in law?

A uniform act is one that seeks to establish the same law on a subject among the various jurisdictions.

How are companies classified in Ohada?

Three types of business structures are provided for in Ohada revised Commercial Company Law for these categories of projects : the sole holder private limited company (SARLU), the sole holder public limited company (SAU) and the sole holder simplified corporation (SASU).

What does OHADA stand for?

Organization for the Harmonization of Business Law in Africa (OHADA), Uniform act relating to general commercial law.

What are the reasons for the creation of OHADA?

OHADA was created in a context of acute economic crisis and a drastic fall of investment level in Africa. Legal and judicial insecurity were identified as a major cause of investor distrust.

Who are the members of the CCJA in OHADA?

The Common Court of Justice and Arbitration of the Organization for the Harmonization in Africa of Business Law (CCJA) is the key institution of OHADA. It wasinstalledin 1998 and made his first decisionsin 2001. Since April 10, 2015, the CCJA consists of thirteenjudgeselected by the Council of Ministers of OHADA for a term of 7 years non-renewable.

Which is the key institution of the CCJA?

Dans le cadre du renforcement de la capacité opérationnelle de son Greffe, la CCJA-OHADA cherche à pourvoir le poste suivant :… The Common Court of Justice and Arbitration of the Organization for the Harmonization in Africa of Business Law (CCJA) is the key institution of OHADA. It wasinstalledin 1998 and made his first decisionsin 2001.

How many judges are there in the CCJA?

The Court currently has threebedrooms (two of five judges and the third of threejudges). The Treaty of OHADA, supplemented by the Rulesbefore the CCJA, organizes the functioning of the Court and the status of itsjudges.