Blog

Why Do We Need to Generate Financial Statements?
One of the crucial facts that you should know before you start running a business is that you need to
Counting and Auditing the Warehouse Inventory
Typically, the small and private businesses will appoint in-house auditors or engage an audit firm in Johor Bahru to perform
Can You Differentiate Net Income and Net Sales?
All the for-profit organisations have the same objective, that is to generate profit. To earn a profit, the company needs
The Differences Between Calendar Year and Fiscal Year
In the world of business, there are two types of years, which are the calendar year and the fiscal year.
First in, First out (FIFO) and Last in, First out (LIFO)
Managing the inventories of a company is never an easy task for companies which are entirely stock oriented. Business owners
What Should Auditors Do When They Receive Electronic Audit Evidence?
Nowadays, you can hardly find a company with cancelled paper cheques and handwritten ledgers. The auditors in audit firms in
What Do Market Value and Book Value Mean?
An asset’s market value shows its actual market price, where people would trade it at that price at the marketplace.
An Overview of Bank Reconciliation
The bank reconciliation refers to the process of matching up the information on a company’s bank statement with the corresponding
What is Goodwill Amortisation?
Goodwill amortisation is the systematic and gradual reduction of the value of a company’s goodwill asset. A company may calculate
Procedures of Field Audit for Inventory Audits
In an inventory audit, a visual inspection can be crucial for all companies regardless of the field of their business.
How to Plan for Internal Audits Schedule Based on the Risks?
Besides having a financial audit that an audit firm in Johor Bahru will conduct for the companies, business owners should
Differences Between Period Costs and Product Costs
Period costs are the costs that you are unable to capitalise into fixed assets, inventories or prepaid expenses. On the