Understanding the Differences Between Sales Tax and Income Tax

Sales tax and income tax are distinctly separate methods of taxation, each possessing its own set of unique characteristics and implications. If you have any uncertainties about taxation (Also see What Should You Expect in Tax Audits?), consider reaching out to an accounting firm in Johor Bahru. Here are the key differences between sales tax … Read moreUnderstanding the Differences Between Sales Tax and Income Tax

An Overview of Objectivity Principle

In accounting, the objectivity principle is a concept where the company should generate its financial statements according to solid evidence. Adhering to this principle helps to ensure that a company can produce financial statements which can present its financial position accurately. If you, a small business owner who is running a start-up company, do not … Read moreAn Overview of Objectivity Principle

Changing from Memorandum & Articles of Association (M&A) to Constitution

If you are new to the world of business, you might have felt confused between the Memorandum & Articles of Association (M&A) and Constitution. In fact, having the M&A is mandatory for all the companies under Companies Act 1965. Now, according to Companies Act 2016, the M&A is known as the constitution as a group. … Read moreChanging from Memorandum & Articles of Association (M&A) to Constitution

Alterations and Amendments on the Constitution

Business owners (Also see How to Rectify Common Accounting Errors that Owners Make) often neglect the role of the constitution in the company’s operation. In fact, the constitution acts as a vital element of the corporate governance of the company. Companies that adopt a constitution should review their constitution regularly and make sure that it … Read moreAlterations and Amendments on the Constitution