Accounting Services in Johor Bahru
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admin An audit engagement is the engagement of audit services, which means the process by which the customer engages an audit firm in Johor Bahru before they start performing any audit activity. In the audit engagement process, both parties will sign the engagement letter, which contains all the essential terms and conditions of their engagement. The … Read moreIntroduction to Audit Engagement
The repurchase of shares refers to a situation where a company repurchases its outstanding shares from the open market by using the funds that the company has accumulated. By doing so, the company will be able to reduce the outstanding shares presented on the balance sheet (Also see Accounting – Preparation of Balance Sheet) of … Read moreWhy Do Companies Repurchase Their Own Shares?
A profit organisation, or a for-profit organisation, is a legal entity that runs its operation intending to generate profit for its owner. Conversely, a non-profit organisation has an objective of serving society. Hence, it is clear that the profit organisations have a profit motive, whereas non-profit organisations have a service motive. One may run a … Read moreAre Accounting Treatments for Profit and Non-profit Organisations the Same?
When it comes to the recognition of revenue earned and expenses incurred, the accountants from the accounting firms in Johor Bahru will use some accounting concepts. Accruals and deferrals are probably two of the most important concepts that help in ensuring that the financial statements of a company can reflect the real picture of it. … Read moreAccounting – Accrual and Deferral
According to the requirement by the board of directors, the intention of the management, or by law, companies will usually engage an independent audit firm in Johor Bahru to audit their financial statements yearly. Generally, if the auditors did not find any crucial problems on the financial statement of the company, they are going to … Read moreWhat is an Unqualified Audit Report?
Paid-in capital is the capital that the investors have contributed to a company by purchasing the stock from that company in the primary market, but not from the secondary market. This is because if the investors buy the shares directly from the company, the party that receives the fund is the company, and the sum … Read moreDo You Know What is Paid-in Capital?