SEC PRFS for Small Businesses – Simplified

Already existing in the Philippines as early as 2005, the Philippine Financial Reporting Standards (PFRS) helps businesses in terms of business decision making, data comparisons, and increase in accuracy on financial statements. PFRS was adapted from the International Financial Reporting Standards (IFRS) for the country to have a standard when it comes to financial reporting practices. Ever since the existence of PFRS, businesses registered with the Securities and Exchange Commission (SEC) are required to integrate PFRS and use it as…

Accounting Tips that Filipino Small Businesses Should Know

There are no shortcuts when it comes to accounting. The numbers are there and it’s important to take notice of that no matter what size of business you are in or have. It may be tempting to give the least attention to your accounting and bookkeeping tasks, but even the slightest error can seriously damage your business. Both are essential if you want your local business to grow. So, make sure to pay attention to your accounting and bookkeeping needs.…

What is TRAIN BILL for Professionals?

Over a year into President Rodrigo Duterte’s administration, the plans for Dutertenomics’ Build, Build, Build infrastructure program has finally commenced. The socioeconomic agenda, which features a promising vision of yielding robust growth across the Philippines, however, needs appropriate funds in order to be successful. To address this, President Duterte has signed into law the Tax Reform for Acceleration and Inclusion (TRAIN) bill, which is visualized to generate P130 million in revenues. Set to be implemented this January 2018, the TRAIN…