Accounting

For years, many micro and small enterprises in Malaysia have felt the financial pinch of mandatory statutory audits. However, the landscape is shifting. With the issuance of Practice Directive 10/2024 (PD 10/2024), the Companies Commission of Malaysia (SSM) is rolling out a brand new, progressively expanding Audit Exemption Framework. If your company's financial year commences on or after 1 January 2025, here is exactly what you need to know about the new rules. 📉 Why The Ch

Understanding the Core Principle of Modern Financial Reporting In the fast-paced world of business, tracking financial performance goes beyond simple cash flow. While managing cash is critical for survival, a complete picture of a company’s health requires a more nuanced perspective. This is where the Accrual Principle becomes the foundation of modern accounting and financial reporting. The accompanying illustration captures the essence of this complex concept. We see two pro