The business phase reaches maturity
Posted: Wed Jan 22, 2025 8:09 am
If the price of the goods or services you offer is not increased, you may not be able to meet business demands and commitments. Conversely, if you need to increase the price, what justification can be given for the price increase?
Of course, you don't want to be labeled as a trader who only wants to pursue profits, agree?
(12) Providing advice on business asset purchases, leasing and property purchases
What and where should the financial resources be used to purchase a business asset? Or should you continue renting a specific business premises or purchase a new building for business purposes?
(13) Helps you avoid being audited by the IRB
If your company and business always comply with the regulations, there is no reason for the IRB to target your company for audit. But if your company fails to submit documents and declare income, a representative from the IRB will come knocking on your door.
(14) Assist and guide you through the audit process and provide relevant documents if necessary
What if your company is called for an audit process and asked to provide relevant documents?
tax-audit-process
You can be fined not exceeding RM30,000 if you fail to comply with the request to submit information/documents for the purpose of this audit.
At this time, the services of an accountant are very much needed to resolve this kind of matter. The names of the documents that need to be prepared may sound a bit strange to those who are not familiar with accounting matters.
At this stage, the sales and income generated by the business begin to show consistent amounts. In terms of numbers, it cannot be increased any further even if you extend the business's operating period, increase the marketing budget, and so on.
At this stage, the role of an accountant also becomes increasingly important. Advice ebay phone number data from an accountant will determine whether you have to be content with your current financial position or step out of your comfort zone.
(15) Make financial forecasts to help you decide whether to diversify your business or stay in one industry
Whether or not you should diversify your business or just stay in one industry. Although there are many companies out there that are diversifying their business, this action may or may not be right for you.
(16) Helps you evaluate whether it is a good or bad decision to take over someone else's business if the opportunity arises
From time to time, opportunities will arise for you to take over an existing business, whether it is because the original owner of the business wants to move, passes away, is unable to continue the business or for other reasons.
Of course, you don't want to be labeled as a trader who only wants to pursue profits, agree?
(12) Providing advice on business asset purchases, leasing and property purchases
What and where should the financial resources be used to purchase a business asset? Or should you continue renting a specific business premises or purchase a new building for business purposes?
(13) Helps you avoid being audited by the IRB
If your company and business always comply with the regulations, there is no reason for the IRB to target your company for audit. But if your company fails to submit documents and declare income, a representative from the IRB will come knocking on your door.
(14) Assist and guide you through the audit process and provide relevant documents if necessary
What if your company is called for an audit process and asked to provide relevant documents?
tax-audit-process
You can be fined not exceeding RM30,000 if you fail to comply with the request to submit information/documents for the purpose of this audit.
At this time, the services of an accountant are very much needed to resolve this kind of matter. The names of the documents that need to be prepared may sound a bit strange to those who are not familiar with accounting matters.
At this stage, the sales and income generated by the business begin to show consistent amounts. In terms of numbers, it cannot be increased any further even if you extend the business's operating period, increase the marketing budget, and so on.
At this stage, the role of an accountant also becomes increasingly important. Advice ebay phone number data from an accountant will determine whether you have to be content with your current financial position or step out of your comfort zone.
(15) Make financial forecasts to help you decide whether to diversify your business or stay in one industry
Whether or not you should diversify your business or just stay in one industry. Although there are many companies out there that are diversifying their business, this action may or may not be right for you.
(16) Helps you evaluate whether it is a good or bad decision to take over someone else's business if the opportunity arises
From time to time, opportunities will arise for you to take over an existing business, whether it is because the original owner of the business wants to move, passes away, is unable to continue the business or for other reasons.