Insights · From his column in Al-Eqtisadiyah newspaper, Kuwait
Dr. Ali Owaid Rukheyes
Founder and Managing Partner of Alwaha Auditing Office. He writes about what financial statements say, and what they may leave unsaid.
Read the latest article28 articles
A series · 3 parts so far
Your Balance Sheet Doesn't Lie… But It Doesn't Tell the Whole Truth
1
90 dayswithout movement in the warehouse = a probable loss in the makingInventory Management in Companies, Establishments and Co-operative Societies
20 September 2026
2
283 KD thousandallowance shortfall on receivables, in the article's exampleTrade Receivables… or Bad Debts Deferred?
27 September 2026
3
7 KD millionthe same building at fair value, against KD 4 million at costYour Property Investments: Operating or Investment?
4 October 2026
All articles
The same building after 10 years, in the article's exampleAccounting standards4 October 2026Your Property Investments: Operating or Investment?283 KD thousandallowance shortfall on receivables, in the article's exampleAccounting standards27 September 2026Trade Receivables… or Bad Debts Deferred?90 dayswithout movement in the warehouse = a probable loss in the makingAccounting standards20 September 2026Inventory Management in Companies, Establishments and Co-operative SocietiesAnd real governance begins when the decision-maker fears losing his reputation more than he fears the legal penalty.Financial management & governance13 September 2026Corporate Governance3 main categoriesIFRS 18's mandatory division of the income statementAccounting standards6 September 2026The End of Accounting Window-Dressing: IFRS 18 Puts Companies and Co-operative Societies under the MicroscopeThe bank does not buy book profits; it assesses the company's ability to generate cash and settle its obligations.Financial management & governance30 August 2026Your Financial Statements: Your Passport to the World of Banks and ExpansionArtificial intelligence will not replace the accountant entirely, but it will redefine the accountant the market needs.The profession & its future25 August 2026The Virtual Auditor: Will Artificial Intelligence Replace the Accountant Within 5 Years?Collateral is not what you own on paper… but what you can rely on in time of need.Financial management & governance16 August 2026When Collateral Loses Its Credit Value: Why Did the Central Bank Exclude State Property Plots?Do not allocate to development what is left of the budget... allocate to the budget what development needs for your company to survive.The profession & its future9 August 2026Sustainable Development in Budgets3 standardsThe accounting standards that write the net-profit storyAccounting standards2 August 2026“Net profit is not a number… but a story written by 3 accounting standards”?And the higher the level of compliance with the standard, the more reliable the financial statements become and the stronger the confidence in the results of operations.Accounting standards26 July 2026Revenue: The Most Influential Item in the Financial StatementsReceivables from related parties are among the most sensitive and complex accounting items in the financial statementsAccounting standards19 July 2026Receivables from Related PartiesDo not extend the life of the asset in order to extend the life of your illusory profits.Accounting standards12 July 2026Extending or Shortening the Useful Lives of Assets70-90%Start-ups failing within their first years (global studies)Financial management & governance5 July 2026A Project Does Not Fail When It Closes… It Fails on the Day You Ignore the Feasibility Study100%Cumulative three-year inflation at which IAS 29 appliesAccounting standards29 June 2026Inflation and Inventories: Accounting Profits or Economic Reality?Do we want an exacting auditor who protects the market, or a comfortable auditor who pleases management?The profession & its future21 June 2026The Auditor Between Independence and Advice: Where Does Oversight End and Partnership Begin?An insurance company does not recognise the full profits as soon as the contract is issued; rather, it spreads them over the period in which the insurance service is provided.Accounting standards14 June 2026IFRS 17: An accounting revolution that shakes the foundations of insurance companies and reshapes the concept of profit2029Mandatory application of IFRS 20 begins 1 JanuaryAccounting standards7 June 2026IFRS 20 explained: Regulatory Assets and Regulatory LiabilitiesProfit does not pay salaries, and handsome figures in the reports do not save a company that cannot meet its obligations.Financial management & governance31 May 2026The Silent Crisis: When the Cash Dries Up, the Company Collapses QuietlyAnd in the financial market, whoever is first with the information is first with the decision.Financial management & governance20 May 2026The Weapon of Transparency: How Immediate Disclosures Protect You from Unequal TradingThe question is no longer why the company is reducing its capital, but how, and from which line item in the balance sheet, that will be done.Financial management & governance17 May 2026Capital Reduction in Kuwaiti Companies180 USD billionExceeded by GCC merger and acquisition deals, 2022-2024Economy & business12 May 2026Gulf Mergers: Between Economic Necessity and a Struggle for InfluenceIn the end, the challenge does not lie in the subscription economy in itself, but in how it is managed.Economy & business3 May 2026Your Silent Bill: How Much of Your Monthly Salary Do Monthly Subscriptions Cost You?60%Approximate dollar share of central banks' reserves worldwideEconomy & business27 April 2026The Dollar Without Gold: The Secret of Its Enduring Strength and Its Implications for the Kuwaiti DinarRemaining within the circle of influence no longer depends on the size of assets alone, but on the ability of these companies to adapt, to renew themselves and to anticipate change.Economy & business20 April 2026Family Businesses in Kuwait: From the Agency Economy to the Value EconomyAuditors work in strict adherence to these standards, and not according to personal opinions.The profession & its future5 April 2026The accounting treatment of State land: between economic substance and legal formIn the end, separate statements may be legally correct, but they are economically insufficient to present a comprehensive picture.Accounting standards15 February 2026The Risks of Relying on Separate Financial Statements: The Importance of Consolidation in Holding CompaniesConsolidation continues for as long as control exists, and deconsolidation begins only when that control is actually lost.Accounting standards8 February 2026Deconsolidating subsidiaries under accounting standards … between financial discipline and the transparency of financial statements