by Daryl Lum | May 15, 2024 | Growing Your Company
Financial reporting stands as a fundamental pillar for ensuring transparent and accountable financial management across organizations. This in-depth exploration aims to uncover the essence of financial reporting, its significance, various forms of financial reports,...
by Daryl Lum | May 15, 2024 | Growing Your Company
Budgeting serves as a pivotal element in a company’s financial strategy, setting financial objectives and monitoring progress towards these goals. It plays a crucial role in managing finances by guiding resource distribution, pinpointing potential risks and...
by Daryl Lum | May 15, 2024 | Growing Your Company
Forecasting leverages historical data and analytical assumptions to project future financial outcomes, serving as a pivotal tool for strategic decision-making. Through the extrapolation of past financial trends, forecasting offers a comprehensive view of anticipated...
by Daryl Lum | May 13, 2024 | Running Your Company
Retrenchment is the termination of permanent employees. This is usually because of redundancy or a reorganisation of the company or business. When we speak of the term retrenchment exercise, we usually refer to it as the termination of a noticeable number of...
by Daryl Lum | May 13, 2024 | Glossary
Deductions, in the context of taxation, refer to specific expenses or allowances that can be subtracted from an individual’s or a company’s assessable income to arrive at their chargeable income. These deductions are typically permitted by tax authorities...
