Counto

MARCH 23, 2025

Statutory Financial Statements Accurate preparation and submission of annual returns keep your business in good standing and open to growth opportunities, such as financing. Professional accounting services provide the financial documentation and credibility needed for these next steps. Ready to upgrade your accounting?

Accounting 52

Accounting Accounting Financial Reporting Financial Statements 52

Counto

NOVEMBER 2, 2024

Smooth Integration with Accounting Systems Real-Time Updates : Instant synchronisation ensures financial records reflect the latest expense submissions, promoting accurate financial statements. Data Integrity : Integration reduces discrepancies, ensuring all financial data remains consistent and reliable.

Financial Reporting 52

Financial Reporting Data Entry Budgeting Financial Analysis 52

Counto

MARCH 23, 2025

Regulatory Requirements Some businesses, especially those near audit thresholds, need additional financial statements or management reports, which can also affect pricing. Accuracy and Compliance Timely and accurate financial records help you avoid penalties from IRAS or ACRA and support better business decisions.

Bookkeeping 52

Bookkeeping Accounting Accounting Payroll 52

Counto

MARCH 6, 2025

b) Meeting Due Diligence Requirements Investors will scrutinise your financial records, legal compliance, and operations. Maintaining organised financial statements and a sound company structure can streamline the fundraising process. Cash Flow Management Ensuring financial stability is key to attracting investors.

Financial Statements 52

Financial Statements Corporation Tax Bookkeeping Financial Records 52

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. Legal Compliance In Singapore, maintaining financial records on an accrual basis is mandatory. Why Accrual Basis Accounting is the Only Compliant Method 1.

Accruals 52

Accruals Accounting Accounting Auditing 52

Counto

DECEMBER 16, 2024

Heres how SMEs in Singapore can use ChatGPT to improve efficiency, particularly in managing financial and operational tasks. Streamlining Financial Reporting and Documentation For many SMEs in Singapore, managing financial records and preparing reports is a time-consuming task.

Financial Reporting 52

Financial Reporting Financial Statements Bookkeeping Tax 52

Counto

MARCH 6, 2025

For instance, if preparing for tax season feels daunting, begin by organising receipts, then review past financial statements, and finally, prepare reports for submission. Step-by-step progress builds momentum and reduces procrastination in critical financial processes. Ready to upgrade your accounting?

Payroll 52

Payroll Financial Records Bookkeeping Financial Reporting 52

Counto

JANUARY 10, 2025

Since it behaves differently from traditional assets or cash, cryptocurrency should be treated as an intangible asset in your financial statements. There are two main methods that small businesses use to value cryptocurrency : Fair Value Method : Under this method, cryptocurrency is recorded at its market price on the transaction date.

Accounting 52

Accounting Accounting Record Keeping Tax 52

Accounting Tools

JULY 24, 2023

Review Subsidiary Financial Statements Print and review the financial statements for each subsidiary, and investigate any items that appear to be unusual or incorrect. This prevents any additional transactions from being recorded in the accounting period being closed. Make adjustments as necessary.

Financial Statements 75

Financial Statements Accounting Accounting Payroll 75

Accounting Tools

OCTOBER 20, 2023

This type of audit is most commonly intended to result in a certification of the financial statements of an entity. Internal auditors will examine issues related to company business practices and risks, while external auditors examine the financial records and issue an opinion regarding the financial statements of the company.

Auditing 75

Auditing Financial Statements Financial Records CPA 75

Accounting Tools

AUGUST 19, 2024

If the resulting financial statements of a client meet the CPA's evaluation criteria, the CPA will issue an auditor's opinion concerning the financial statements that accompany the statements when they are issued to third parties. Financial planning. Forensic accounting.

CPA 75

CPA Financial Statements Auditing Financial Records 75

Accounting Tools

JUNE 20, 2023

Financial Accounting Those in the financial accounting field are concerned with the aggregation of financial information into external reports. There is also the controller track, which requires a combined knowledge of financial and management accounting.

Accounting 75

Accounting Accounting Financial Statements Auditing 75

Accounting Tools

DECEMBER 20, 2023

In most cases, an accounting entry is made using the double entry bookkeeping system , which requires one to make both a debit and credit entry, and which eventually leads to the creation of a complete set of financial statements.

Accounting 75

Accounting Accounting Accruals General Ledger 75

Accounting Tools

DECEMBER 18, 2023

Substantive testing is an audit procedure that examines the financial statements and supporting documentation to see if they contain errors. These tests are needed as evidence to support the assertion that the financial records of an entity are complete, valid, and accurate. What is Substantive Testing?

Auditing 75

Auditing Financial Statements Accounts Payable Accounts Payable 75

Future Firm

APRIL 18, 2023

How to Get Started With Accounting Intelligence How AI Was Used to Write This Article What is AI in Accounting? 6) Bookkeeping and Data Entry Bookkeeping and data entry are essential tasks for businesses to maintain accurate financial records. Artificial intelligence in accounting is currently transforming the industry.

Data Entry 96

Data Entry Accounting Accounting Invoice Processing 96

Accounting Tools

JULY 11, 2023

A financial audit is the examination of the financial records of an entity by a certified third party examiner. This examination by a knowledgeable outsider is needed to provide credibility to an organization's financial statements.

Auditing 40

Auditing Financial Statements Financial Records Tax 40

Accounting Tools

JUNE 8, 2023

Source documents are the physical basis upon which business transactions are recorded. Source documents are typically retained for use as evidence when auditors later review a company's financial statements , and need to verify that transactions have, in fact, occurred.

Petty cash 75

Petty cash Invoicing Bookkeeping Reconciling 75

Counto

FEBRUARY 18, 2024

Here’s a breakdown of these two roles: The Role of a Bookkeeper Tasks: Records transactions, manages payroll, and balances ledgers. Maintains accurate financial records, laying the foundation for further analysis. Offers straightforward assessments of financial standing, without complex analysis.

Bookkeeping 52

Bookkeeping Financial Analysis Financial Records Accounting 52

Billah and Associates

APRIL 21, 2023

This article compares and contrasts between them and identifies the required abilities for accounting professions. To know more about Accounting Technicians vs Accountants, develop financial statements, and prepare reports for tax purposes, Contact Billah & Associates.

Accounting 52

Accounting Accounting Financial Statements Financial Records 52

Counto

SEPTEMBER 7, 2024

An audit is an independent examination of a company’s financial statements by a licensed auditor. The purpose is to ensure that the financial statements accurately reflect the company’s financial position and comply with the Singapore Financial Reporting Standards (SFRS) and the Companies Act.

Auditing 52

Auditing Financial Statements Tax Budgeting 52

Accounting Tools

JUNE 8, 2023

An auditor’s opinion is a formal statement made by an auditor concerning a client’s financial statements. Unqualified Opinion The unqualified opinion states that the financial statements fairly reflect the client’s financial results and financial position.

Financial Statements 40

Financial Statements Auditing Financial Records 40

Future Firm

SEPTEMBER 27, 2023

In this article, I’ll run through some of the more modern options that might make the most sense for your firm at the moment. TOA Global can provide experts for financial statements, offering cost savings compared to onshore hires, though not the cheapest option on the list. They’re mainly focused on the US.

Outsourced Bookkeeping 98

Outsourced Bookkeeping Bookkeeping QuickBooks Bookkeeping Services 98

Accounting Tools

SEPTEMBER 29, 2023

Auditability refers to the ability of an auditor to achieve a comprehensive examination of the financial records and financial statements of a client. An audit engagement has a higher level of auditability when the client’s financial records are well-organized and complete. Related Articles Audit Failure

Auditing 40

Auditing Financial Records Financial Statements 40

Counto

JUNE 13, 2023

In this article, let us examine potential reasons why your business tax return may attract attention and provide valuable insights on avoiding them, ensuring a smooth and trouble-free corporate tax filing experience. This can occur if the income reported on your tax return does not match your business’s records and financial statements.

Tax 52

Tax Financial Statements Reconciling Record Keeping 52

Accounting Tools

JUNE 9, 2024

An audit report is a written opinion of an auditor regarding an entity's financial statements. Clean Opinion A clean opinion is issued if the financial statements are a fair representation of an entity's financial position, being free of material misstatements. What is an Audit Report?

Auditing 40

Auditing Financial Statements Financial Records 40

Outsourced Bookeeping

JANUARY 22, 2025

It is extremely crucial to have proper and accurate financial records, which are important for tax compliance, decision-making in business and cash flow management. Having a well-kept, accurate and up-to-date financial record is a busy and stressful process.

Bookkeeping Services 52

Bookkeeping Services Bookkeeping Outsourced Bookkeeping Financial Records 52

Accounting Tools

SEPTEMBER 6, 2023

Verifiability means that it should be possible for an organization's reported financial results to be reproduced by a third party, given the same facts and assumptions. When financial statements are verifiable, this assures the users of the statements that they fairly represent the underlying business transactions.

Financial Statements 40

Financial Statements Accounting Accounting Auditing 40

Nanonets

APRIL 15, 2024

A Bank Reconciliation Statement is a financial document that ensures that the cash balances recorded in the internal financial records align with the financial records presented in the bank statement. General Ledger ) and the bank’s records (e.g. Bank Statement ).

Bank Reconciliation 52

Bank Reconciliation Deposits Reconciling Financial Records 52

Nanonets

MAY 21, 2024

This process helps identify discrepancies, resolve outstanding balances, and maintain a clear understanding of the company's financial position. This reconciliation aims to ensure the accuracy and completeness of accounts receivable transactions recorded in the company's financial records.

Accounts Receivable 52

Accounts Receivable Accounts Receivable Account Receivables General Ledger 52

Nanonets

JUNE 23, 2023

Balance sheet reconciliation is a critical process in finance and accounting that ensures the accuracy and integrity of financial statements. Balance sheet reconciliation is an essential accounting practice that verifies the accuracy and consistency of financial statements. What is Balance Sheet Reconciliation?

General Ledger 52

General Ledger Reconciling Financial Statements Financial Analysis 52

Accounting Tools

APRIL 29, 2024

A statutory audit is an examination of an entity's financial records in accordance with the requirements of a government agency. Related AccountingTools Course How to Conduct an Audit Engagement Related Articles Compliance Audit Forensic Audit Limited Audit Management Audit Performance Audit What is a Statutory Audit?

Auditing 40

Auditing Financial Statements Financial Records Bookkeeping 40

Counto

OCTOBER 7, 2024

Recognition Criteria The first step in effective accounting is to recognise when an intangible asset can be recorded on your financial statements: 1.1 Impairment Testing Conducting regular impairment assessments is essential to determine whether the recorded value of an intangible asset exceeds its recoverable value: 4.1

Financial Statements 52

Financial Statements Accounting Accounting Financial Reporting 52

Accounting Tools

SEPTEMBER 10, 2023

A fraud audit is a detailed examination of the financial records of a business, with the intent of finding instances of fraud. A fraud audit is actually a consulting service, rather than a type of audit, since the outcome does not involve giving an opinion on a client's financial statements.

Auditing 40

Auditing Financial Statements Financial Records 40

Accounting Tools

JULY 18, 2023

The letter attests to the accuracy of the financial statements that the company has submitted to the auditors for their analysis. The letter is signed following the completion of audit fieldwork, and before the financial statements are issued along with the auditor's opinion.

Financial Statements 40

Financial Statements Auditing Financial Records Financial Reporting 40

Nanonets

JUNE 21, 2023

In the world of finance and accounting, the process of reconciliation plays a vital role in ensuring accurate and transparent financial records. It is a crucial process for businesses to identify discrepancies, resolve errors, and maintain the integrity of their financial statements. What is Reconciliation?

General Ledger 52

General Ledger Reconciling Financial Records Account Reconciliation 52

Outsourced Bookeeping

MAY 22, 2023

This article delves into the causes behind the failure of retail businesses and offers insightful accounting advice to enable them to not just endure but thrive amidst intense market competition. Inaccurate records in finance – Precise financial documentation is vital to facilitate shrewd business choices.

Outsourced Bookkeeping 59

Outsourced Bookkeeping Accounting Accounting Budgeting 59

Nanonets

JUNE 13, 2024

Best Reconciliation Software Tools Reconciliation software is a tool specifically designed to compare financial data from different sources such as invoices, bank statements, general ledgers, and other financial records. Types of Reconciliations financial teams come across What is account reconciliation software?

Account Reconciliation 52

Account Reconciliation General Ledger XERO Bank Reconciliation 52