Counto

DECEMBER 16, 2024

Proper accounting ensures that you remain compliant with local regulations, maintain accurate financial records, and make informed decisions. Overview of Accounting Services for Small Businesses Accounting services provide a range of functions to help businesses stay financially organised.

Financial Records 52

Financial Records Budgeting Accounting Accounting 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

FEBRUARY 22, 2025

These standards align with international financial reporting norms, ensuring consistency and transparency in financial statements. Real-time financial reporting ensures businesses stay compliant without manual intervention. Reduces errors in financial statements, improving audit readiness.

Accounting 52

Accounting Accounting Financial Statements Financial Reporting 52

Outsourced Bookeeping

JUNE 28, 2024

Auditing is like a never-ending game of clues. Despite being the backbone of a business’s success, auditing can be a daunting and time-consuming process for organizations and individuals regardless of previous experiences. First, familiarize the different audit types to speed up the auditing process.

Auditing 59

Auditing Outsourced Bookkeeping Financial Statements Bookkeeping 59

Counto

SEPTEMBER 7, 2024

Understanding Audit Requirements for Private Limited Companies in Singapore As a private limited company in Singapore, understanding audit requirements is crucial for maintaining financial transparency and compliance. What is an Audit? Purpose: Verify that the financial statements present a true and fair view.

Auditing 52

Auditing Financial Statements Budgeting Tax 52

Billah and Associates

SEPTEMBER 26, 2023

One of the key tools for ensuring compliance and financial integrity is auditing. In this blog post, learn more about the auditing essentials and how it plays a vital role in safeguarding a company’s financial health and reputation.

Auditing 52

Auditing Financial Statements Financial Records Tax 52

Remote Quality Bookkeeping

JUNE 28, 2023

In an era of increasing corporate scandals, financial frauds, and complex business transactions, ensuring the integrity and transparency of financial records has become paramount for organizations worldwide. But what does the word “forensic audit” even mean? Forensic audits are less common but no less necessary.

Auditing 52

Auditing Financial Statements Financial Records Collections 52

Remote Quality Bookkeeping

JUNE 28, 2023

In an era of increasing corporate scandals, financial frauds, and complex business transactions, ensuring the integrity and transparency of financial records has become paramount for organizations worldwide. But what does the word “forensic audit” even mean? Forensic audits are less common but no less necessary.

Auditing 52

Auditing Financial Statements Financial Records Collections 52

Bookkeeping Express

JUNE 21, 2023

In the world of franchising, maintaining accurate financial records and practicing sound bookkeeping is essential. Franchise audits and inspections play a pivotal role in ensuring compliance, uncovering discrepancies, and safeguarding the overall integrity of the franchise system. Compliance with Financial Reporting Standards.

Bookkeeping 52

Bookkeeping Auditing Financial Records Record Keeping 52

Accounting Tools

JULY 11, 2023

Related Courses How to Conduct a Compilation Engagement How to Conduct a Review Engagement How to Conduct an Audit Engagement What is a Financial Audit? A financial audit is the examination of the financial records of an entity by a certified third party examiner.

Auditing 40

Auditing Financial Statements Financial Records Tax 40

Accounting Tools

AUGUST 19, 2024

Of the following activities, the only one that a CPA is specifically certified to do is the audit. There are limitations on the ability of a CPA to provide services other than audit work to a client, in order to avoid giving the appearance of being too closely associated with the client. Financial planning. Consulting services.

CPA 75

CPA Financial Statements Auditing Financial Records 75

Nanonets

JUNE 19, 2023

Accounts payable audits play a crucial role in the financial health of businesses. They ensure compliance in financial reporting and can cut discrepancies and inefficiencies. This article covers why accounts payable audits are important to maintain financial health and the steps in an AP audit process.

Accounts Payable 52

Accounts Payable Accounts Payable Auditing AP 52

Accounting Tools

SEPTEMBER 29, 2023

Related Courses How to Conduct a Compilation Engagement How to Conduct a Review Engagement How to Conduct an Audit Engagement What is Auditability? Auditability refers to the ability of an auditor to achieve a comprehensive examination of the financial records and financial statements of a client.

Auditing 40

Auditing Financial Records Financial Statements 40

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

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.

Accounting 52

Accounting Accounting Bookkeeping Payroll 52

Intuit

JANUARY 19, 2024

A Certified Public Accountant is an accounting professional who performs tasks such as auditing books or analyzing financial statements. CPAs work closely with clients to review financial statements and perform audits to ensure compliance. What Is a CPA?

CPA 130

CPA Bookkeeping QuickBooks Financial Statements 130

Accounting Tools

JUNE 9, 2024

What is an Audit Report? An audit report is a written opinion of an auditor regarding an entity's financial statements. The report is written in a standard format, as mandated by generally accepted auditing standards ( GAAS ). The different types of audit reports are noted below. The scope of the audit.

Auditing 40

Auditing Financial Statements Financial Records 40

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

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.

Accounting 75

Accounting Accounting Financial Statements Auditing 75

Accounting Tools

SEPTEMBER 10, 2023

Related Courses Fraud Examination Fraud Schemes How to Audit for Fraud What is a Fraud Audit? A fraud audit is a detailed examination of the financial records of a business, with the intent of finding instances of fraud. Related Articles Eligibility Audit Forensic Audit Types of Audits

Auditing 40

Auditing Financial Statements Financial Records 40

Billah and Associates

JANUARY 8, 2019

Tax audit for businesses A corporate tax audit is an efficient and effective mode of scrutiny, especially when done by a primary corporate tax accountant. It is important to take note that the larger and more complex the audit is, the higher would be the delays or misunderstandings during the filing of corporate tax returns.

Corporation Tax 52

Corporation Tax Auditing Tax Financial Statements 52

Accounting Tools

APRIL 29, 2024

What is a Statutory Audit? A statutory audit is an examination of an entity's financial records in accordance with the requirements of a government agency. A number of organizations must undergo statutory audits, including banks, brokerage firms, insurance companies, and municipalities.

Auditing 40

Auditing Financial Statements Financial Records Bookkeeping 40

Accounting Tools

NOVEMBER 2, 2023

Related Courses Forensic Analytics Fraud Examination Fraud Schemes How to Audit for Fraud What is a Forensic Audit? A forensic audit involves the examination of a firm’s financial records for evidence to be used in a legal proceeding. The key activities included in a forensic audit are noted below.

Auditing 40

Auditing Financial Statements Financial Records Payroll 40

Accounting Tools

JULY 9, 2023

Related Courses How to Conduct a Compilation Engagement How to Conduct a Review Engagement How to Conduct an Audit Engagement What are Generally Accepted Auditing Standards? Generally Accepted Auditing Standards is a set of guidelines used by auditors to conduct an audit.

Auditing 40

Auditing Financial Statements Financial Records Accounting 40

Remote Quality Bookkeeping

MAY 1, 2025

Payroll tax audits can feel overwhelming, especially for small businesses. These audits often result from simple filing errors or missing payments. Misclassifying employees or failing to deposit payroll taxes on time can also trigger an audit. Preparation begins with maintaining accurate and up-to-date payroll records.

Payroll 52

Payroll Auditing Tax Deposits 52

Accounting Tools

DECEMBER 12, 2023

What is Audit Evidence? Audit evidence is the documentation collected by an auditor as part of his or her review of the financial accounts, internal controls , and other matters needed to certify a client’s financial statements. The types of audit evidence gathered usually encompasses the items noted below.

Auditing 40

Auditing Financial Statements Collections Financial Records 40

Intuit

SEPTEMBER 18, 2024

Overall, you need at least 120 semester hours or 180 quarter hours of education that includes the following: At least 24 semester hours or 36 quarter hours of upper-division accounting, including: At least 3 semester or 4 quarter hours of financial accounting, based on U.S. CPAs must renew their licenses every two years.

CPA 130

CPA QuickBooks Customer Service Bookkeeping 130

Nanonets

JANUARY 1, 2024

In this blog, we'll delve into what invoice audits entail and why they are crucial for the financial integrity of businesses. What is an Accounts Payable Audit?    An Account Payable Audit is a process by which the financial records of the accounts payable department are examined by an auditor.

Invoicing 52

Invoicing Auditing Purchase Order AP 52

Accounting Tools

APRIL 23, 2023

Related Courses Guide to Audit Working Papers How to Conduct a Review Engagement How to Conduct an Audit Engagement What is a Paperless Audit? A paperless audit is when an auditor accesses the electronic records of a client in order to conduct an audit. Travel costs. Turnaround time. Workflow management.

Auditing 40

Auditing Financial Statements Computation Financial Records 40

Nanonets

APRIL 24, 2024

Audit Bank Reconciliation Guide  Both internal and external accounting audits are essential parts of financial management as well as organizational risk management. A bank reconciliation audit is one such process that helps in identifying financial gaps or discrepancies.

Bank Reconciliation 52

Bank Reconciliation Auditing Reconciling General Ledger 52

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

CapActix

MARCH 11, 2023

Outsourcing accounting services can ensure that their financial records are accurate and compliant with legal requirements. Bookkeeping services can help small businesses stay organized and maintain accurate financial records, which is crucial for making informed business decisions and preparing tax returns.

Outsourced Bookkeeping 72

Outsourced Bookkeeping Accounting Accounting Bookkeeping Services 72

Nanonets

AUGUST 1, 2023

Internal audits play a crucial role in assessing a company's internal controls, corporate governance, and accounting processes. These audits are essential for ensuring compliance with laws and regulations, as well as maintaining accurate and timely financial reporting and data collection.

Auditing 52

Auditing Data Entry Collections Financial Statements 52

Invoicera

APRIL 11, 2025

Using an invoice factoring calculator can assist in keeping financial records in sync when dealing with advances on receivables. A calculator reduces these risks and maintains clean financial records. If youre forecasting financial outcomes, consider using an invoice finance calculator alongside it.

Invoicing 40

Invoicing Tax Billing Computation 40

Billah and Associates

MAY 24, 2023

Here’s how bookkeeping contributes to tax planning and preparation: Accurate Financial Records Proper bookkeeping ensures that all income, expenses, assets, and liabilities are recorded correctly and in a timely manner. This minimizes the risk of errors, penalties, and audits by tax authorities.

Bookkeeping 52

Bookkeeping Tax Financial Records Financial Statements 52

Future Firm

APRIL 18, 2023

This includes tasks such as financial reporting, audit and compliance, fraud detection, and data analysis. 2) Fraud Detection AI-powered fraud detection systems are capable of analyzing large volumes of financial data to identify irregular patterns and anomalies that could indicate fraudulent activity or other financial irregularities.

Data Entry 96

Data Entry Accounting Accounting Invoice Processing 96

Bookkeeping Express

JULY 26, 2023

Facilitating Tax Compliance Tax time can be daunting for small business owners, but meticulous record-keeping makes the process smoother. By maintaining accurate financial records, businesses can easily report income, expenses, and deductions, minimizing the risk of errors or audits.

Record Keeping 52

Record Keeping Financial Records Financial Statements Accounts Payable 52