Accounting

The Importance of Accounts Payable Process

The Importance of Accounts Payable Process The importance of the accounts payable procedure or function should not be underestimated because it includes almost everything about an organisation’s settlements other than payroll. An entrepreneur or maybe a bookkeeper in a small company, an ordinary employee in an average-sized firm, or accounts payable unit in a big …

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How to Increase Working Capital

How to Increase Working Capital Working capital allows a business to continue its everyday operations. Inadequate working capital might lead to interruptions in company operations. Hence, working capital is an essential part of operating a company effectively. Three Elements Of Working Capital Inventory + Receivables – Payables = Working capital Accounts receivables are cash invoices …

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The Accounting Equation (Assets, Liabilities & Equity)

The Accounting Equation (Assets, Liabilities & Equity) From the multi-national, huge enterprise down to the corner barbershop, a company financial position is affected by every single business transaction. The assets, liabilities and equity determine the economic status of a business (Also see How to Create Your Chart of Accounts). The accounting equation, known as the …

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Four Different Services Provided by Accounting Firms

Four Different Services Provided by Accounting Firms Being a small company owner is challenging. Small business owners assume that their service is only a small scale; they could deal with the accounting efficiently by themselves. While a few of them can do it, however, for the others, engage with accounting service would be the favoured …

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Accounting – Revaluation of Fixed Assets

Accounting – Revaluation of Fixed Assets Plant, property, and equipment (PPE) are also known as fixed assets and are used in the production process or supply of goods and services, administrative purposes, or any other activities in the business. The Singapore Financial Reporting Standards, FRS 16 – Property, Plant and Equipment allows business the accounts preparer …

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Accounting – Impairment versus Depreciation of Fixed Assets

Accounting – Impairment versus Depreciation of Fixed Assets Impairment of an asset emerges when the fair value of an asset unexpectedly goes down below its value while depreciation is the decrease in the value of an asset gradually so what is the difference between the two? First of all, impairment can happen in wider asset …

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Outsourcing Accounting and Payroll Functions

Outsourcing Accounting and Payroll Functions The business leaders as well as entrepreneurs are constantly aiming to enhance their company’ efficiency. In real life, they have an incredible wide range of doing so by employing among the accounting solutions for local business in Singapore. It permits them to run away the terrible stress the compliance-related jobs …

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