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As we all know, capital is an essential element in all kinds of business. No one can run a business without capital (Also see Capitalizing versus Expending costs). There are two types of capital, which are working capital and fixed capital. Working capital refers to the capital that the company requires to finance its daily … Read moreHow to Differentiate Working Capital and Fixed Capital?

Although freelancers get to enjoy the freedom of deciding on when and how they want to work, they need to take the responsibilities of various tasks by themselves. After they get paid, they need to get themselves ready for tax seasons, and this is why they must equip themselves with some bookkeeping knowledge. For freelancers, … Read moreHow Can Freelancers Manage Their Bookkeeping Tasks?

All of us know that financial statements are essential in telling the company’s management, investors, creditors and others about the performance and financial position of that business. As these statements play a crucial role, business owners who do not know accounting (Also see The Importance of Accounting) well often seek help from an accounting firm … Read moreLimitations of Financial Statements

Financial reporting refers to the disclosure of vital financial data as well as other activities that the organisation has carried out to its stakeholders. The stakeholders include the banks, creditors, investors, government, regulatory agencies and others. Financial reporting helps the stakeholders in getting an idea about the company’s actual financial position at a particular time. … Read moreDo You Know What is Financial Reporting

According to Section 97 in the Companies Act 2016, the company does not need to issue a share certificate anymore except if it receives a shareholder’s application for a certificate about his shares in the company or if this is written in the company’s constitution. The issuance of share certificate should comply with Subdivision 2 … Read moreWhat is Share Certificate?

As we all know, the net income and cash flow of a company are two important aspects we will focus on when we want to evaluate the financial position of that business. However, do you feel confused about the relationship between them? Some will think that both carry similar meanings as they involve cash. If … Read moreHow to Differentiate Net Income and Cash Flow of a Company?