Ledger and journal are the two most essential books of accounts. Accountants will use the journal to record the financial transaction by following the order in which they occurred, whereas Ledger is utilised to categorise economic activities based on their nature (Also see The Importance of Managerial Accounting). In this article, we will focus more […]
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Introduction to Financial Statements
What Are Financial Statements By looking at financial statements, you will be able to know: The source of your money How you use your money How much funds you now possess on-hand that you can use Financial statements give an outline of your accounting details in a reasonably understandable way (Also see 4 Warning Signs […]
Facts About Expending and Capitalising Cost
As you run a small business on your own, you have to decide on many things. Deciding how your business deals with the costs can be one of those decisions. When your firm spends money, you can choose to manage the costs as a capitalising cost or an expending cost (Also see Characteristics of Successful […]
Introduction to Payroll Accounting
It is an undeniable fact that if a firm possesses staffs, it must be responsible for payroll and additional advantages for its personnel. Managing these can be difficult and time-consuming for some firms in Malaysia. Thus, it is advisable to employ an accounting firm in Johor Bahru to ease the process of running a business. […]
Steps to Start a Successful Business
As we all know, running a business is never easy, especially when you have little funds. However, this is not impossible, particularly if you begin with a business idea that lays out how your company can progress accurately. Undoubtedly, saying so might be easy, but doing so can be very challenging. It needs a lot […]
Straight-line Depreciation and Accelerated Depreciation
If your company has not engage an accounting firm in Johor Bahru, you probably want to know how to calculate depreciation. When you want to report and calculate depreciation, there are two accounting principles that you have to know, which are the matching principle (Also see Relationship Between Matching Principle & Accounting Period) and cost […]
Introduction to Statement of Cash Flow
The formal way of calling the cash flow statement is the statement of cash flows. It is among the primary financial statements. The other financial statements include the statement of detailed revenue, income statements, balance sheet, and statement of stockholders’ equity. As keeping these documents properly is vital for the healthy growth of your company, […]
Ways to Boost the Efficiency of Your Business
There is not even a moment that a business would stop operating, both literally as well as figuratively. Whether you like it or not, your business will cost you money and then generate revenue, just like a turning wheel that never ceases. Often, the cost is even higher than the income it brings in. However, […]
How Can Good Accountants Help in Growing Your Business and Reducing Your Expenses?
There are lots of great accounting services in Johor Bahru, and there are numerous great company advisors too. A good accountant does not just work on doing your accounts and sending documents to the government, and after doing these, they have done their job. The great accounting professional in this era and space in this […]
What is the Difference Between Balance Sheet and Statement of Affairs?
Small companies do not keep their account books according to the double-entry system. They only record cash and credit transactions. Nevertheless, these companies wish to know their business position at the end of the financial year. Hence, the statement of affairs is prepared at the start and at the end of the duration, to figure […]