Category: Bookkeeping

Houghton College also provides opportunities for learners to create on-campus businesses and consult other student business owners. Evaluate their qualifications, experience, specialized services, and references to find a consultant what services do accountants provide compatible with your business. Businesses can leverage the consultant’s expertise to improve their financial management and ultimately achieve their business goals […]

Clear can also help you in getting your business registered for Goods & Services Tax Law. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. How Much […]

The investor needs to have at least a 10% margin of safety before trading with the GARP approach. In budgeting, the margin of safety is the total change between the sales output and the estimated sales decline before the company becomes redundant. It alerts the management against the risk of a loss that is about […]

A provision is recorded in a liability account, which is typically classified on the balance sheet as a current liability. The accounting staff should regularly review the status of all recognized provisions, to see if they should be adjusted. In American English, the word provision is used as a synonym for “expense”, especially when it […]

Contingency planning is a very important function of the accounting department and financial reporting procedure. And provisions are the essence of contingency planning that help the entities and individuals estimate an expense or loss in anticipation. The IAS 12 of International Financial Reporting Standards defines deferred tax payments as the future expense concerning the Taxable […]