In the Notes To The Accounts in the financial statement, we see the term Income Tax expense.

This article discuss what is in the Income Tax Category which includes Current Tax Payable and Deferred Tax.

The Income Tax expense comprises the sum of both the tax current payable and Deferred Tax.

TAX CURRENTLY PAYABLE

Based on taxable profit for […]

Normally, in the notes of the Accounts in financial statement, we often see terms like related parties. This article looks at what really is the term called Related Parties.

Related parties basically falls into two categories:

An INDIVIDUAL is related to the company if the individual

1. Has directly or indirectly, control or joint control or […]

Unlike other traditional costing systems, one of the importance of activity based costing is to determine the “true” cost for a cost object which is a product, service or customer
Why is then the  necessity to know the “true” cost of a product?
Some of the reasons includes the following:

To identify money makers/money losers;
To finding an economic […]

It is interesting to see how Malaysian Airline System Bhd plans to reduce costs by up to RM1 billion over a period of five years under its business transformation plan to become a “five-star airline at low-cost carrier’s cost”.
According to MAS’s MD, Encik Jala, it targeted to save from the following activities:
-RM200 million from procurement […]

The Malaysian Institute of Accountants (MIA) has proposed to amend the Accountants’ Act 1967 so as to enable it to participate more actively in designing surveillance mechanisms and disciplinary actions against errant accountants. By having such amendments, MIA also want to enhance local accountants’ competitiveness on the global front.
MIA president Nik Mohd Hasyudeen Yusoff said […]