Blog

understanding-the-materiality-concept-in-accounts

Understanding The Materiality Concept In Accounts

The materiality concept is universally recognised accounting convection that ensures firms disclose everything relevant to the intended audience. It entails all the information in the financial statements that can affect the decision making of its users. Materiality helps auditors and accountants in deciding separations of data and figures when reporting. It also helps in understanding […]

understanding-the-materiality-concept-in-accounts

Tips On Choosing Your Company’s Fiscal Year-End

Every business across the world has a fiscal year, irrespective of the ownership; whether private or government. It is a firm’s financial year that is twelve months in total used for accounting purposes and preparation of financial statements. Fiscal years are commonly required when discussing the firms budget and understanding the financial status. Not every […]

understanding-the-materiality-concept-in-accounts

Understanding Contra Asset Accounts

Not all financial accounts function additively with one another on the balance sheet. In some instances, an account may work to counterbalance the impact of another similar account. The alleged contra accounts apply this working mechanism against other accounts. Contra implies against. Thus, a contra asset account is often paired together with an asset account […]

understanding-the-materiality-concept-in-accounts

Fundamental Differences Between A Financial Planner And An Accountant

Many business owners in Singapore surmise that their accountants can provide both accounting services and financial planning (or vice versa). However, in as much as the two roles complement each other, they are quite distinct, and neither professional can do the other’s job entirely. You may be facing a dilemma on how to split your […]

understanding-the-materiality-concept-in-accounts

Ways to Ease Your Accounting Woes

Entrepreneurs seldom enjoy performing accounting and bookkeeping functions. The same applies even for former accountants turned business owners. Most people dislike crunching numbers and consider it tedious, confusing, and in many cases, they believe that accounting software is hard-to-use. Most entrepreneurs in Singapore who do their own accounting employ non-professional methods and often end up […]

understanding-the-materiality-concept-in-accounts

6 Accounting Tricks of Large Firms

No matter the size of your business, accounting can still be a challenge. Smart business leaders hire the help of accounting services in Singapore to learn how they can use this age-old science to enhance the bottom line of their respective corporate entity. If you thought excellent financials are a result of high revenues only, […]

understanding-the-materiality-concept-in-accounts

Common Accounting Issues Faced by All Types of Companies

Accounting challenges have taken root as some of the most formidable challenges a business can face. Accounting comprises complex processes, stringent regulatory requirements, and there always the threat of fraud from within and without. Here’s a list of common accounting issues firms are facing today – and how your business can surmount these challenges. Comprehensive […]