MEDIA CENTER

Media

Browse:

JODC announces its transformation to use international plan for accounting standards for financial reporting and the stages of working on it

An internal working team has been formed in the company which is responsible for the implementation and following up with the phases of the transition to international accounting standards plan.

With reference to the circulation of the Capital Market Authority dated 21/08/2016 AD regarding the disclosure to cope up with the transition to the international accounting standards, Jabal Omar Company announces to the shareholders the stages to keep up with the plan to switch to International Accounting Standards (Phase 1), and it is as follows:

  • The company has prepared a plan for the transition to international accounting standards and the accounting policies will be updated and adopted in the company and approved before the end of 1438 on the grounds that the company follows the Hijri calendar.
  • The company is in the process of designation of the certified external consultant to assist in the implementation of the transition plan in collaboration with the internal staff of the company prior to the date of 30/03/1438 AH.
  • An internal working team has been formed in the company which is responsible for the implementation and following up with the phases of the transition to international accounting standards plan.
  • The company will not face any significant difficulties in applying the process of transformation to the international accounting standards.
  • The targeted date to prepare for the international accounting standards is 03/30/1439 AH which is the first quarter of 1439 AH with the comparative quarter of 1438 as an application of the international standards of the financial report. And for the first time, the company will prepare the financial statements for the fiscal year ending in 1438 according to the international accounting standards, as well as in accordance with the standards of the Saudi Organization for Certified Public Accountants.

As it will be disclosed for any developments in the implementation phases of the plan at the time.

Other Press Releases

nebosh

Jabal Omar has acquired two accreditations from NEBOSH

Jabal Omar has acquired two accreditations from the National Examination Board in Occupational Safety and Health NEBOSH, which is one of the most recognizable board worldwide that aims to qualify employees. This achievement qualifies Jabal Omar to provide training and qualification services in both syllabus: Health and Safety at Work (HSW) and International General Certificate […]

Hyatt Announces Plans for Jabal Omar Hyatt Centric Makkah Hotel and Residences

The property marks the first Hyatt Centric brand in the Kingdom of Saudi Arabia and the second in the Middle East Chicago, January xx, 2019 – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into a management agreement with Jabal Omar Development Company, a leading developer in the Middle East, […]
Northcare

Jabal Omar Development Company and British Northacre Company form strategic partnership

Aimed at exploring future opportunities for collaboration in real estate development Jabal Omar Development Company and British Northacre Company form strategic partnership JEDDAH, January 2019 – Jabal Omar Development Company (JODC), one of the biggest real estate developers in the Kingdom of Saudi Arabia and the Saudi Stock Exchange (Tadawul), recently signed a Memorandum of […]

Jabal Omar to provide healthcare services to Makkah visitors

Jabal Omar Development Company (JODC), the Kingdom’s leading real-estate company, and Smart Medical Services Company have signed an agreement to establish a medical center located in Jabal Omar project. The agreement was signed by JODC’s CEO Yasser bin Faisal Al-Sharif and Chairman of the Board of Directors, Smart Medical Services, Abdullah Abdulaziz Al-Othaim. The Medical […]
Open form