The implementation accounting practices in Lepak Pontian Enterprise

Abstract

Accounting plays a significant part in the achievement or disappointment of a business or organization. Accounting frameworks are liable for track, inspect, report, and review on the monetary situation of organizations, planning documentation fundamental for other purposes such as support in making decision, and giving data backing to numerous other authoritative capacities. Accounting gives data to proprietors and owners of small and medium-sized organizations working in each area for use in monetary execution evaluation. As the new business start-up with, the owner mentioned that the company need to have a proper accounting practice due to after this the company need to report a financial statement to the taxation regulatory “Inland Revenue Board”. Regarding this matter, as business running, we as the owner should not mixed the income from business and personal, it must separate it. From this matter, the business wanted to know a proper accounting practice for their businesses.