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Can you name four areas of law which might affect a company?

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Question added by Frank Mwansa , ACCOUNTING LECTURER , FREELANCER
Date Posted: 2016/02/20
Muhammad Ali
by Muhammad Ali , National Model Shops Manager , OPPO Mobiles Technologies Pakistan (Private) Limited

Regulatory Law

It is the law which defines how business operates in specific situations.

This includes  Environmental Law made by either Federal Government or the State Government.

Labor Laws

labor Law is the law which defines the way how companies treat to their employees.

Such as the minimum wage rate, Duty Hours,Gratuity & Pension Policies.

Tax Laws

this type of law defines the criteria how entities report their financial status to the government. 

such as the reporting of income and expenses to the government. These laws generally follow the accounting standards and IFRSs, but in few area such as depreciation they don't follow accounting policies.

Reporting Laws

This category of law defines how entities report their financial status to the investors and the government. these laws defines the standards which entities must have to follow for the transparency purpose.

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