6 Ways Accounting Technology Boosted the Accounting Process The use of Information Technology (IT) in today’s accounting systems is one of the time’s biggest breakthroughs. It paved the way for the use of IT networks and computerized accounting systems. A simpler accounting process emerged from this technological progress. Today, automated systems replaced the manual paper-based…
Quickbooks Online or Xero? Your Accounting Software Solution Startups and SMEs in the Philippines are beginning to go digital with their data and records. Because of this, many software companies have programmed various accounting software packages. Most of them are offering business owners convenience on the management of various business responsibilities. Quickbooks and Xero are…
Why is there a Demand for Outsourcing Accounting Services? Today, the government and its supervising agencies are becoming more and more strict on companies’ financial transparency and regulatory compliance. Keeping business owners’ records in accordance while managing their business to stay afloat this puts a burden on them. Business functions that can’t be charged to…
Accounting Methods: Cash and Accrual Accounting Accounting for business involves rules and techniques used by the company to measure income and expenses. These accounting rules are what is termed as Accounting Methods. The two general methods used by businesses are the cash basis and accrual basis of accounting. The principal difference between cash accounting and…
The Wonders of Control Mechanisms for Restaurant Business THERE’S no argument that the restaurant business is a flick. However, many are living on the wrong impression that running one equates to instant success. All successful restaurants embark on measures in a place aptly referred to as the “control mechanism of a restaurant business.” With food…
Pros and Cons of A One Person Corporation Every Businessman Should Know Filipino business owners and foreigners alike rejoiced at the publication of the Republic Act 11232, otherwise known as the Revised Corporation Code. The long-awaited One Person Corporation is finally allowed in the Philippines. With that, Filipino business owners and foreign investors can now…
OPCs and Sole Proprietorships; Which Works Best For Your Business? This 2020, One Person Corporations (OPCs) have been a significant addition to the Republic Act 11232 or the Revised Corporate Code of the Philippines. With this addition to the law, entrepreneurs who run their business on their own had two business models to apply— OPCs…
Business as Usual at SEC: Easy Steps in Submitting 2020 AFS/ GIS AFS and GIS Submission, Corporations should neither be seen as someplace where the money is generated at an incredibly rapid pace nor should it be an instrument promoting vested interests. The concept of a corporation should be anchored on being an essential component…
Shunning Bureaucratic Layers Through Revised Corporation Code of the Philippines Underscoring the need to enhance business efficiency accessibility in the Philippines, the Philippine Congress approved Republic Act 11232, which was later referred to as the Revised Corporation Code of the Philippines. Primarily designed to simplify doing business in the Philippines, the Revised Corporation Code of…
Amend Articles of Incorporation in the Philippines the Right Way Being in business means you need to accept that change is inevitable. This change could be as simple as relocating your office or as complex as changing the purpose of your business. Either way, you should amend articles of incorporation to reflect these proposed moves.…
