Accounting

Accounting Brilliance: Conquering Borrowing Costs for Financial Success

borrowing costs

The accounting treatment for borrowing costs generally requires direct recognition of borrowing costs, in the form of interest expense, in the income statement. However, accounting standards allow interest expense on loans to be capitalized, meaning that it is directly attributable to the acquisition, construction, or production of qualifying assets. Scope of accounting standards are applied … Read more

Company Triumph: Unearthing the Value of Accounting Goodwill for Business Growth

company, goodwill

The Company implements various strategies, including the acquisition of other businesses, with a focus on maximizing profits and enhancing its operations. Accounting goodwill plays a significant role in these acquisition processes. When the Company acquires ownership of another business while allowing it to operate independently, accounting goodwill comes into play. This strategy enables the Company … Read more

Accounting for E-Commerce: Conquering Challenges, Mastering Best Practices, and Maximizing Revenue Recognition

E-Commerce has become a locomotive for changes in the global business environment, which has sparked responses from various supporting infrastructures, including the accounting profession. The e-commerce business has several challenges and accounting considerations that many business people and their accountants are not aware of when they are still in their initial stage. Bookkeeping and accounting … Read more

Infrastructure Project Accounting: Growth, Investment, and Accounting Standards in Indonesia

The market for Infrastructure Project Accounting is segmented by the infrastructure segment (Social Infrastructure, Transportation Infrastructure, Extraction Infrastructure, Manufacturing Infrastructure). The infrastructure sector in Indonesia is estimated to grow at a CAGR of approximately 3% during the forecast period. Indonesia’s government increased its infrastructure investment needs by USD 429.7 billion in 2020-2024, up 20% from … Read more

Elevating Agricultural Accounting: Unveiling the Financial Potential of Agricultural Activities

Agricultural activity is the management of biological transformation and harvesting assets by entities for sale or to be converted into agricultural products or into additional biological assets. PSAK 69: Agriculture provides accounting arrangements which include the recognition, measurement, and disclosure of agricultural activities. The biological transformation referred to in PSAK 69 is a process of … Read more

Unlocking the Potential: Mastering the Accounting for Derivatives

Derivatives has been in existence for thousands of years, dating as early as the ancient trading in Mesopotamia to the Middle Ages in Europe where merchants negotiate for land and sea ventures. In the current digital era, derivatives have evolved into complex instruments, indexing not only through commodities, but also involve financial instruments and cryptocurrencies. … Read more

Harnessing the Strategic Value of Accounting as Intangible Assets

In modern business era, intangible assets such as knowledge, skills, relationships, processes, brands, or culture are vital strategic resources. Governments have started highlighting the importance of intangibles as drivers for economic growth and encouraging firms to pay high attention to their intangible assets. Investment in intangible aspect of business is essential for the companies to … Read more

Driving Business Success: The Strategic Impact of Loyalty Programs Accounting

Customer loyalty programs are used by the Company to provide incentives to customers who purchase their goods or services. If a customer purchases goods or services, then the Company will reward points to the customer (often described as “points”). The customers may be required to accumulate certain amounts of points before they can redeem the … Read more