Counto

NOVEMBER 3, 2024

Why Accrual Basis Accounting Matters for Singapore SMEs For SMEs, the importance of maintaining accurate, compliant financial records cannot be overstated. Here’s why we recommend accrual accounting, the risks of cash basis accounting, and how Counto’s expertise can help safeguard your business.

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Accruals Accounting Accounting Auditing 52

SMB Accounting and Consulting

DECEMBER 2, 2020

Privately held companies may choose a non-GAAP reporting method, but when working with the federal government and the Defense Contract Auditing Agency (DCAA) GAAP must be followed. There is no complete set of principles since different industries must report financial data differently.

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Accounting Tools

DECEMBER 20, 2023

Accounting entries are also needed by an organization’s auditors; they cannot conduct an audit without having a complete set of financial records, and those records are created with accounting entries. This type of accounting entry is used under both the accrual basis and cash basis of accounting.

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Accruals Accounting Accounting General Ledger 75

Accounting Tools

JUNE 20, 2023

There are several types of accounting that range from auditing to the preparation of tax returns. Financial Accounting Those in the financial accounting field are concerned with the aggregation of financial information into external reports. This career tends to attract auditors.

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Counto

MARCH 19, 2024

Record Keeping Maintain meticulous financial records, including income statements, receipts, invoices, and expense records. Proper record-keeping is crucial for accurate tax reporting and to navigate audits or inquiries by the Inland Revenue Authority of Singapore (IRAS).

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Record Keeping Financial Records Accruals Corporation Tax 52

Billah and Associates

JULY 19, 2023

Proper bookkeeping basics practices ensure accurate financial recording, allowing you to make informed decisions and comply with legal and tax requirements. It helps organize financial transactions and facilitates reporting and analysis. Financial decision-making : Accurate financial records enable informed decision-making.

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Bookkeeping Financial Statements Accruals Bank Reconciliation 52

Nanonets

MAY 6, 2024

This process includes verifying transactions against payroll registers and tax reports, ensuring that tax withholdings match figures reported to tax authorities, accounting for accruals and adjustments related to payroll expenses, and verifying the accurate calculation and recording of employee benefits and deductions.

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