by Daryl Lum | Apr 12, 2024 | Glossary
Amortisation, a fundamental concept in accounting, entails gradually reducing the recorded cost of an intangible asset over its anticipated period of utilisation, commonly referred to as its useful life. This process effectively transfers the asset from the balance...
by Daryl Lum | Apr 12, 2024 | Glossary
An acquisition refers to a transaction in which a company acquires a majority or all of another company’s shares to attain control over it. Such transactions are widespread in the business world and can occur either with or without the approval of the target...
by Daryl Lum | Apr 2, 2024 | Glossary
An audit involves a thorough review of an organisation’s financial statements as disclosed in its annual report by an external examiner. These financial statements encompass the balance sheet, income statement, statement of changes in equity, cash flow...
by Daryl Lum | Apr 2, 2024 | Glossary
Accrual accounting represents a method of financial accounting that permits a company to recognise revenue upon the provision of goods or services, before receiving payment, and to document expenses as they occur. This approach diverges from the cash basis accounting,...
by Daryl Lum | Apr 2, 2024 | Glossary
A beneficial owner refers to an individual or a collective group that reaps the advantages of property ownership, despite the legal title being registered under a different name. This term further encompasses those who possess either direct or indirect control over...
