Depreciation (Also see Straight-line Depreciation and Accelerated Depreciation) is probably one of the terms that you will often hear from the bookkeeping firm in Johor Bahru when they are explaining to you how they are handling the accounting tasks related to the assets that you own. They will tell you that depreciation means the carrying […]
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Bookkeeping – An Overview of Revenue Expenditure
Revenue expenditures are the expenditures incurred during normal business operations, and the company will receive the benefit from those expenses (Also see How Can Good Accountants Help in Growing Your Business and Reducing Your Expenses?) in the same accounting period. These are the expenses the company has spent when producing or providing goods or services […]
What LHDN Audit Procedures a Business May Experience?
If the LHDN decides to audit a company, the worst nightmare of most business owners may come true. To avoid this, the companies should engage an audit firm in Johor Bahru to perform financial audits (Also see Benefits a Simple Financial Analysis Can Bring to Your Business) to make sure that they have done the […]
Ways to Perform an Effective Human Resource Audit
When conducting human resource audit, the auditors from the audit firms in Johor Bahru will investigate each regulation of the company’s human resource department. Those regulations include recruitment and selection, compensation and benefits, the management of workplace safety and risks, as well as training and development. The human resource audit aims to identify whether the […]
How to Lead a Team as An Auditor?
It can be challenging for an auditor to lead an audit team. Besides having the most exceptional integrity, the team leader has to possess strong leadership and be excellent in performing audit (Also see Principles of Auditing) so that he or she can supervise the whole team. The audit team holds the reputation of the […]
Introduction to Limited Assurance Engagement
Limited assurance engagement is also known as review engagement or negative engagement. This kind of engagement is not the same as a reasonable assurance engagement. Usually, if the auditors use this engagement, they will perform less review and procedures to support their conclusion on the financial statements (Also see Introduction to Financial Statements) . Then, […]
How to Set Up an Excellent Business Website?
After you have incorporated your firm, besides hiring an accounting firm in Johor Bahru to manage your accounting-related tasks for your new company, you need to consider setting up a business website for it. The website of your business plays a crucial role in branding and marketing (Also see Affordable Marketing Strategies for New Companies […]
Balance Sheet and Consolidated Balance Sheet
Definition of Balance Sheet A Balance Sheet (Also see Introduction of Balance Sheet) is a review of the financial status of a business at a specific time. It is a fundamental part of the financial statement (Also see Introduction to Financial Statements ) together with the statement of cash flows and income statement. The Balance […]
How to Calculate the Carrying Value of Assets?
The carrying value refers to the reported cost of the assets that a company owns. This means that the carrying value is the value of the assets shown in the company’s balance sheet or books of accounts, less the sum of depreciation (Also see Straight-line Depreciation and Accelerated Depreciation) based on the assets’ useful life. […]
Do You Think Dividend is an Expense?
Dividend refers to the portion of profits the company has generated which is distributed to the company’s shareholders. Most people would think that this is an expense from the company’s perspective because the company spends money to pay the investors. This is one of the common misconceptions among people who do not know accounting treatments […]