Browsing Tag:bookkeeping

Companies and Their HMOs Must Comply with Accounting Standards

The Philippine Star reported that the Insurance Commission (IC) released a circular requiring Health Maintenance Organizations (HMOs) to issue contracts compliant with Philippine accounting standards. The circular, which was intended for transparency purposes, shall apply to the annual as well as quarterly reporting periods beginning January 1, 2020. Companies should then make sure that by that time next year, HMOs contracts are compliant with the law. One of the principles that must be followed are contained in the Philippine Financial…

How to Streamline Your Bookkeeping for Efficiency

Bookkeeping is both important and time-consuming. For small business owners, entering expenses on books takes so much of their time and focus that should be allocated to other pressing business matters. Unfortunately, bookkeeping is an integral part of a business. It helps in monitoring expenses as well as serves as a record when it’s time to pay taxes. One wrong declaration of costs can already lead to fees and legal trouble. So, what should be done to avoid errors in…