Accounting

All companies need to keep proper accounting records and produce financial report for the following purpose:

1. For statutory requirements.
2. For business and management purposes.

Statutory Requirements

• Companies  Commission of Malaysia (CCM), as provided by the Company Act 1965
• Inland Revenue Department, as provided by the Income Tax Act 1967

For Business and Management Purposes

• For auditor
• For management to analyst the company's performance
• To help management preparing company’s budget and planning
• To help management preparing company’s tax planning
• For shareholder and investor to analyst the performance and potential of the company
• For bankers to see the potential and reliability of the company
• For suppliers or creditors

Accounting and Book Keeping Services

Our services includes maintaining daily accounting records or updating accounts periodically  i.e. monthly, quarterly, half yearly, annually or updating backlog accounts. These include the followings:

• Collecting and recording of all business transactions data.
• Transactions include sales, purchases, receipts and payment.
• Records books include sales book, purchase books, general ledger, cash book, journals, register book, etc.
• Documents include sale invoices, purchase invoices, payment vouchers, cheques, etc.

Upon completion we will produce the following reports for you.

• Trial balance
• Trading and Profit & Loss Account
• Balance Sheet
• Debtors Aging report
• Creditors Aging Report
• Bank Reconciliations
• Fixed Asset Schedule
• Any other related schedules

All records and report format is based on standard accounting practice in Malaysia. The accuracy and correctness of the account however will depend on the information and documents made available to us.

Fees and Charges

Accounting fees are based on volume of works done. It is based on estimated numbers of transactions involves which include number of cheques issued, receipts, number of sales invoices, purchase invoices, journals, etc. We will  examine all documents available and analyst all the information before giving our estimate or quotation. Only upon agreeing to our estimate or quotation we shall start our works. The works can be done at our office or at your offices. The fee does not include any incidental out of pocket expenses incurred by us while performing our job.