Closing Entries
“Closing Entries” refers to the process of transferring temporary accounts related to capital, such as withdrawals, revenue, and expenses, to the capital account in order to determine the accurate ending balance of the capital account at the end of an accounting period. This process also involves calculating the balances of asset and liability accounts and […]
The difference between TFRS PAEs and NPAEs standards
Before we delve into PAEs and NPAEs, let’s get acquainted with the financial reporting standards in Thailand. Thailand has its own set of financial reporting standards called Thai Financial Reporting Standards (TFRSs), which are based on the International Financial Reporting Standards (IFRSs) to ensure international acceptance. These financial reporting standards apply to legal entities responsible […]
Bookkeeping Services
What is Bookkeeping ?? Bookkeeping is the process of recording various financial transactions of a company, whether it is the receipt or payment of money, in order to prepare financial reports for the company. Bookkeeping is essential for any business, regardless of its size or industry, as it involves accurately recording financial transactions, including expenses, […]
ACC Consulting is a leading audit firm in Thailand
ACC Consulting Co., Ltd. is a leading audit firm in Thailand that provides a wide range of professional services to companies operating in the country. The firm has a team of highly qualified and experienced professionals who specialize in auditing, accounting, tax, and consulting services. Audit Firm One of the […]
What is an Interim Audit ?
ACC Consulting‘s excellent audit team has made things clearer by explaining what an interim audit is and how it might help, as well as its potential drawbacks. An interim audit is an audit that is performed before the end of a client’s fiscal year and covers the preceding six to […]
Auditing
In the world of accounting, we are rapidly approaching year-end. Year-End Closing season. Businesses increasingly feel compelled to enter information into their ERP or accounting software. A Definition of Auditing. An audit is the examination of books of accounts, supporting documents, and other evidence by a professional auditor in accordance with established standards for professional […]
Business Financial Planning
Business Financial Planning A financial plan is meant to demonstrate the long-term (3- to 5-year) monetary consequences of a company’s strategic and operational plans over the next 12 months. Administration bases its actions on predetermined financial plans. They need to be malleable enough to adapt to the ever-shifting nature of the business world and the […]
In accounting, what exactly do we mean when we talk about “Assets?”
In accounting, what exactly do we mean when we talk about “Assets?” In the context of accounting for finances, “Assets” are resources that are in the possession of the entity. It does not matter whether the asset in question is tangible or intangible; what matters is that it can be owned and assigned a value. […]
Financial Statement Audit Service Of Manufacturing Industry And Production Group
Currently, modifications to the Revenue Department’s tax requirements and Manufacturing, plant engineering, and mechanical engineering are all experiencing increased levels of competition and demand as a direct result of current patterns of global economic development. As a result of these demands, forward-looking automation solutions are becoming increasingly important in the context of the ongoing revolution […]
Definition of Financial Statements
What is financial statement ? Definition of Financial Statements is Financial reports are a summary of accounting in the collection of various information to present information to users of financial statements for decision-making. They show the financial position, performance, and change in cash in an organized manner. Financial reports of this nature should be prepared […]
