Accounting Trends in 2020 that You Should Have Knowledge About Businesses have been striving to improve their financial management by improving their accounting processes. Financial departments of companies have been looking for a balance of maintaining traditional responsibilities and developing a corporate strategy that includes automation and digitization. The accounting trends in 2020 reflect that.…
Some of the Most Important Accounting Rules in Indonesia Companies Should Know About In this article, we look at some of the most important accounting rules in Indonesia. Read on. The accounting standards in Indonesia is the Indonesia Financial Accounting Standards (PSAK). The Indonesia Financial Accounting Standard Board and the Indonesia Sharia Accounting Standards Board…
3E Accounting Use of Artificial Intelligence The accounting profession has embraced waves of automation to improve the efficiency and effectiveness of their work, the use of technology enablers such as artificial intelligence (AI) to replace humans for various job tasks is also an aspiration for many firms. Embracing the growth of technology, back in 2019,…
Hedge Accounting: What is it, and How Does it Work? It is important for you to realize how hedging can impact your financial statements. Companies do hedging to minimize the exposure of firms to markets, but it does not impact the income statement through an unrealized loss/gain (P&L). Therefore, a lot of firms want to…
What You Need to Know Before Forming a Nonprofit Organization Forming a nonprofit organization can arise for many reasons. But ultimately, these foundations are all inclined with pushing various causes and advocacies aimed at improving the condition of humankind, whatever they may be. From the name itself, nonprofit organizations are not created to generate big…
Doing Business in Indonesia: Basics of Islamic Accounting Accounting can be defined as the process of recording financial transactions pertaining to a business. It includes the summarizing, analyzing, and reporting of the company to analyze its performance. This is the conventional definition. But how about if we put the prefix “Islamic?” What would be the…
Drawing the Line Between Secretary and Administrative Assistant Duties The role of secretary and administrative assistant might be confusing for some even though they have different jobs. This could be because they have overlapping functions sometimes. However, an administrative assistant usually has a bigger responsibility compared to a secretary. Still, the secretary and administrative assistant…
Helping You Understand the Common Bookkeeping Terms Every field or industry has its own set of jargons, like in accounting. You should be familiar with the different bookkeeping terms as a business owner. In this way, you can understand and understand the different financial statements of your company. Remember that bookkeeping and accounting are important…