There are two bases of accounting, which are cash and accrual basis. Using cash basis, when cash is accepted or paid, expenditures and revenues are recorded. Whereas using accrual basis or the matching principle (Also see Relationship Between Matching Principle & Accounting Period), revenues are recognised on the Profit and Loss when the service is […]
Category: Bookkeeping
Outsourcing Accounting and Payroll Functions
The goal for business owners and entrepreneurs is to boost the companies’ productivity continuously. Through hiring accounting service in Johor Bahru for their business, the business leaders are free from the stress by compliance-related tasks. Several years back then, business owners were skeptical to publish their finance-related data with a third-party that they were unwilling […]
Accounting – Financial Ratios You need to know
When the term financial ratio is quoted, the first thing comes to most people’s mind are formulas and equations that are super hard to understand and got terrified. Nonetheless, this ought to not hold true as some simple financial ratio also helps provide useful information to your organisation despite there are more advance technique for […]
Bookkeeping – Cash flow Statement
Cash flow statement is an integral component of every companies’ financial statements, whether audited or unaudited. The FRS 7 (that governs the calculation and presentation of cash flow) covers only periods starting on or after 1st January 2016. The primary objective of the standard is to make sure there is uniform presentation of cash flow […]
Profit and Loss Account
The expenses your company incurred and the revenue the company earned ought to be evaluated properly. A profit and loss account should be established to enable you swift extraction of these valuable information. You should consider thoroughly concerning just how it’s most likely to function when you are intending to ensure the profit and losses […]