Internal Control: The Means to Getting Hold of Your Business
There are forces at work to stop a business from achieving its objectives. To make sure it achieves its objectives, the business takes measures to stop those forces from negatively impacting the business. We call the forces that threaten the business, risk. The counter measures to…
The Benefits of Financial Statement Audits Go Beyond the Audit Report
Financial statement audits have benefits beyond the audit report. Most businesses won’t get the benefits because they see the audit as a necessity to abide by the law, not to improve their business. Small and Medium Enterprises (SMEs) rarely have the skills they need to…
Tax Implications of Changing Your Accounting Year
A company’s accounting year is the period for which it prepares its annual financial statements. It must consistently prepare its financial statements to that date. This enables users of financial statements to compare performance between years. Changing your accounting year has tax implications. It poses…
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