Accounting Services in Johor Bahru
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admin An audit committee of a company refers to a group of non-executive directors that the board of directors has set up and is responsible for supervising it. This committee has a very close relationship with the structure of a company’s board of directors. Typically, the board of director will set up many distinct sub-committees with … Read moreAudit Committee – Its Definition, Responsibilities and Requirements
Definition: An unqualified opinion is an opinion which the auditors (Also see Characteristics of an Excellent Auditor) will give to their clients after performing the testing on the audited financial statements. If an auditor provides an unqualified opinion, it means that there is no material misstatement and the client has prepared and presented those statements … Read moreAudit – Introduction to Unqualified Opinion
A business could keep records of its financial transactions ( Also see Lesson for Financial Accounting ) using a single entry system or double entry system. The former is less work and less time consuming while the latter requires more effort and time. The single entry system is the earliest method to keep monetary records. … Read moreThe Differences Between the Single Entry System and Double Entry System
The general ledger refers to the main set of accounts, and it aggregates all the business transactions that a company has recorded. When the accountants from an accounting firm in Johor Bahru is doing the general ledger reconciliation, they will review all the accounts in it to make sure that the balances of the accounts … Read moreAccounting – General Ledger Reconciliation
Also known as the conservatism principle, the prudence concept is a concept that most accountants, including the accountants from an accounting firm in Johor Bahru, would follow. This accounting principle ensures that the company has not overstated its income and assets. It also makes sure that the company has made provisions for all determined losses … Read moreAccounting – Prudence Concept
Dividend refers to the share of profit that a company distributes to its shareholders (Also see Do You Think Dividend is an Expense?). It is a return that the company’s shareholders obtain for making investments in that business. The board of the company will decide on the amount of distribution, and the shareholders will need … Read moreWhat is Dividend?