SW NIHAO Newsletter E.14 – June 2023
SW IN INDONESIA SUSTAINABLE QUALITY GROWTH IN A CHALLENGING WORLDSPECIAL EDITION
Ensuring Trustworthy Financial Reports: The Power of Auditor Independence in Audit for Borrowing and Related Costs
The independent auditor has a responsibility to plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud. Auditor independence refers to the impartiality and objectivity of an auditor in conducting an audit, free from conflicts of interest and bias. It … Read more
Supercharging Business Growth: Unraveling the Impact of Taxes in Borrowing Costs
In the realm of business activities, companies often seek to borrow money from various sources, such as banks, non-bank financial institutions, or other companies—both third-party and related parties. These borrowings play a crucial role in financing working capital and capital expenditure, essential for sustaining business continuity and fostering rapid business growth. At the heart of … Read more
SW NIHAO Newsletter E.13 – May 2023
BORROWING COST IMPORTANCE OF BORROWING COST FROM VALUATION, TAXATION, ACCOUNTING, AND AUDIT PERSPECTIVE. 01. Valuation of Borrowing Costs The valuation of borrowing costs considers the risk and the maximum rate of return. 02. Borrowing Costs in Taxation There are borrowing costs in taxation that can be classi ed as deductible expenses and non-deductible expenses. 03. Borrowing … Read more
Valuation Vantage: Uncovering the True Value of Borrowing Costs
Borrowing costs are interest and other charges that must be paid by companies that borrow money (debitors). Long-term borrowings in corporate finance practices are included in financing activities. Long-term borrowings should be used to fund investing activities, not operating activities. In the financial statements, investing activities are reflected in the non-current assets section, while operating … Read more
Unshakable Strategies for Maximizing Fixed Assets in Your Business
One of the company’s corporate actions to own another company is to buy most of the shares owned by another company. In the event that the Company acquires shares and there is a difference in the selling price between the book value of the shares and the sale and purchase value of the shares, goodwill … Read more
SW NIHAO Newsletter E.12 – April 2023
GOODWILL SW INDONESIA EXPLORES THE PHENOMENON OF IMPAIRMENT VALUE ON GOODWILL IN THE AUDITED FINANCIAL STATEMENTS 01. Accounting For Goodwill Goodwill is an asset that represents future economic benefits arising from other assets acquired in a business combination. 02. Audit Of Goodwill The ineffectiveness of the impairment value of goodwill is usually the main concern … Read more
SW NIHAO Newsletter E.11 – March 2023
COMPLIANCE SOCIAL SECURITY . TAX RETURN . STOCK EXCHANGE 01. COMPLIANCE OF HEALTH AND EMPLOYMENT SECURITY Every company in Indonesia is required to register all workers as member of the Social Security Administrative Body (BPJS), i.e. BPJS Employment and BPJS Health. For companies that do not register their employees to BPJS Employment and BPJS Health, … Read more
VAT on E-Commerce : Latest Tax Regulation – PMK No.60/2022
The development of digital technology has created an ecosystem for e-commerce which demonstrates cross-border business transactions, including the sale and purchase of Taxable Goods (BKP) and Taxable Services (JKP). Business entities that have been confirmed as Taxable Businessman (PKP) in Indonesia are bound by Value Added Tax (PPN) regulations for the transfer of BKP and/or … Read more
SW NIHAO Newsletter E.10 – February 2023
E-COMMERCE Business Environment of Online Trading Transactions 01. ACCOUNTING FOR E-COMMERCE E-commerce drives responses from accounting profession. 02. VAT ON E-COMMERCE Newest update in Value Added Tax regulation on e-commerce business. 03. IPO OF E-COMMERCE SECTOR IPO is a rational action for companies in e-commerce sector. 04. PROSPECT OF E-COMMERCE Prospect and contributions e-commerce to … Read more
