Accountant “Problem Solver” – 【Hotel Industry】 Seizing Opportunities in Crisis!
The COVID-19 pandemic caused the tourism industry to come to a halt for a long period of time, plunging the hotel industry into an unprecedented crisis.
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How to save more when opening a Company?
Frugality is a virtue and how should one save the most when opening a company?
Many agents use the “Cheap, cut price, and worth the money” selling point in advertising. However, consider this – when the 3 major important matters of “company registration, taxes filing, and audited reports” are handled by 3 different companies A, B, and C respectively, with poor communication, the situation can easily go from saving money to losing money!
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Is it really that convenient to buy a ready-made company with a bank account?
“Are there any risks in buying a ready-made company with a bank account for doing business?” Impatient people may wonder.
Indeed, buying a ready-made company seems to eliminate many application procedures, allowing you to close the deal today and start operating tomorrow.
However, running a business is a long-term endeavor, and buying a company comes with some subsequent matters that need to be addressed. Is it really worth it?
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【Hints to Law Firms】 Do not stinge on bank service fees, as small savings can lead to big losses anytime!
When law firms handle property transfer for clients, client will first deposit into the law firm’s Client Account at the bank, before being transferred to the buyer or payee.
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External Audit vs Internal Audit: Significant Differences in Roles
Regardless of the size of a business, it is essential to have someone “monitoring the numbers.” Apart from accountants handling the company’s day-to-day transactions, when is it necessary to engage external audit or internal audit? What are the differences in their purposes and functions?
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【Overdue Tax Payment Penalties】The government has collected 445 million HKD in penalties, did you contribute to that?
The latest figures released by the Inland Revenue Department show that the number of cases where people were fined for late tax payments increased by 22% compared to the previous year.
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ESG-Derived Economic Opportunities on the Rise!
Since 2015, the implementation of a plastic bag levy has covered all retail points in Hong Kong. This demonstrates that environmental protection and sustainable development are global trends.
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Articles of Association (AA) of a company can have a significant impact on important transactions and lead to unrecoverable losses.
When establishing a limited company, it is necessary to draft a set of Articles of Association (AA). The AA includes mandatory provisions and internal regulations set by the directors that the company must comply with. These provisions cover requirements such as the minimum number of directors, their responsibilities and powers, and details on decision-making processes, such as voting or signing.
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Business Crisis or Transformation Opportunity? Finding a Way Forward!
During the past few years of the pandemic, many small and medium-sized enterprises (SMEs) have been borrowing money in an effort to survive, leading to a peak in borrowing. This was largely driven by the hope for a return to normalcy.
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A Habit to Eliminate Financial Management Loopholes in Companies
Occasional cases of theft occurring within offices have been found to be committed by employees themselves, often due to financial difficulties or succumbing to temptation. While it is not necessary to be suspicious of everyone, it is important to maintain a sense of vigilance.
