Accounting Archives | CloudCfo

Accounting

Related-Party Transactions and Transfer Pricing in the Philippines – New BIR Requirements!

The BIR recently released new compliance requirements for Related-Party Transactions. This has implications for accounting, bookkeeping, compliance and financial reporting in the Philippines.

This article explains all you need to know!

Online Accounting, Bookkeeping and Finance in the Philippines: What does “online” actually mean?

What does “online” accounting, bookkeeping and finance actually mean for businesses in the Philippines? How does it work? What does it involve?

In this article, we explain all!

Align your Chart of Accounts with your business model

What exactly is the Chart of Accounts? What is its purpose? Is it the same for every business? Why is it important to align the Chart of Accounts with your business model?

We explain all in this article!

2020 Audit Season in the Philippines – Fail to prepare, prepare to fail

Audit season is well and truly upon us here in the Philippines!

We don’t want the next few weeks to be any harder than they have to be. So here’s a few items to consider when preparing for audit season in the Philippines!

Quickbooks Online or Xero? It depends on your business

We explain the benefits of using Quickbooks Online and Xero and what you should look for when considering a subscription for either solution.

8 ways in which technology is changing the accounting, bookkeeping and finance industry

By leveraging an ecosystem of innovative technologies and solutions, businesses are benefiting from much more efficient, transparent, cost effective and value-added accounting and finance services.

So how exactly is technology changing the accounting and finance industry?

Spoiler Alert – Accounting and Bookkeeping are different! Here’s why

There are a number of important differences between the accounting and bookkeeping functions. Businesses must understand these differences to ensure their internal accounting and finance departments is performing.

In this article, we explain what the key differences are and why they matter.

Preservation of accounting books and records – Compliance for companies in the Philippines

How long should a company retain its accounting books and records? Where should the records be kept? Should they be in hard copy or can they be stored online?

Read on to find out!

Accrual Accounting v Cash Accounting – What’s the difference and why does it matter?

You may have heard about the two most common systems of accounting for companies – accrual accounting and cash accounting. But do you know how each system works? What the differences are? The advantages and disadvantages of each one? Read on to find out!