admin

There are two major methods to record expenses and income. The timings and type of transaction decide which method to use. Let’s analyse cash accounting and accrual accounting to see the difference between these accounting methods. Cash Accounting The transactions are recorded when cash is obtained and accounted in the form of clients paying for … Read moreThe Difference Between Cash Accounting and Accrual Accounting

Accounting system plays a vital role in business start-up. If you are not an accounting professional, you are likely to perform poorly in accounting and bookkeeping system. Also, doing all accounting duties alone is not recommended especially when you want to plan growth strategies for your start-up (Also see Ways to Foster a Strong Accounting … Read moreAccounting Allies You Need for Your Start-Up

Businesses often need to deal with the need to invest significant amounts of money on assets that will be useful for several years. Here are a couple of examples: •    Equipment to enhance an unsafe work environment •    Equipment to check the consistency of items as requested by the client •    Equipment in packaging, labelling, … Read moreCapital Budgeting in Business Investments

The majority of business in Malaysia invested plenty of time preparing accounts and bookkeeping. Even consultants claim that they spend much of their time helping business with accounting firm in Johor Bahru in evaluating results and forecasting. The weakness of financial reporting weakness is easy but has significant effects: businesses do not use the right … Read moreThe Weakness of Accounting System

Many company owners do not notice the distinction between managerial accounting and financial accounting. Managerial accounting includes all internal procedures used to account for business transactions, while financial accounting includes aggregating accounting information into business financial statements. This blog will concentrate on the distinctions between managerial accounting and financial accounting in the following aspects. Aggregation … Read moreThe Distinction between Managerial Accounting and Financial Accounting

Cash flow statement is a useful tool to determine a company’s capability to generate money and its overall performance. We need to predict the cash flow statement so that the executive team could determine the success of the strategies. Hence, it would be best if you prevented the mistakes below when forecasting cash flow (Also … Read moreAvoid These Mistakes When Forecasting Cash Flow