Tuesday, January 27, 2015



To: mr.radzi@yahoo.com
Sent: On Tuesday, January 03, 2015 1:05 AM, wrote:

Good Day Sir,

I would like get some accounting advice and also considering getting accounting service from your agency.
I have a few issue that I hope you can provide me with some advice. 

In April 2014, I am still working but I had registered a company under sole-proprietor, providing retail business solution.
I managed to get a project in May 2014 but the business contract start in July 2014. My employment ended in June 2014
Using my own saving, I hired a part-time worker under training probation. Basically all the expenses are using my own saving account.

Due to insufficient fund, I only manage to open my company account in August 2014, after my first payout .  I am facing difficulty in separating my saving with company fund and find it hard to monitor my cash flow and finance status.

1) How much is the charges for preparing this account record, consider it as a Back Track from April - December 2014?

2) I am using my own saving for most purchase & expenses, and claim back from my company account in TOTAL + Drawing for my personal use (I did not declare salary for myself), which mean my company account transaction only have salary payout, claim & drawing by account transfer. Please advice the solution on what document is necessary if I want to prepare the said accounting record.

3) Basically I do not have permanent staff, only 2-3 who worker (friends & family) as part time base on hourly + commission, do I need to pay for their EPF?

4) I have not declare a salary for myself and I learn that this might cause problem to my finance flow in the future, what is your advice? I come across this promo website at http://promo.kwsp.gov.my/sp1m.html. Please advice.

5) I come across one of the FAQ stated that it is  OK if we did not submit the first year LHDN report. Please advice

6) My average monthly Gross income is 9-10K, do I need to register Sdn Bhd? 

Kindly advice and provide the quotation for the accounting report.
Your advice to me are highly appreciated.


Mobile: 016-xxxxxx


Salam and good morning.

Thank you for the questions. As for your questions:
  1. The accounting fees on preparing the accounts depends on the workload, time frame of the transactions and the number of documents provided. The estimated accounting fees for a year start at RM1,500 to RM2,500 per annum. However, the fees are excluded from disbursements such as:
·         Photocopying
·         Postage and courier
·         Fax and telephone
·         Travelling and transportation

  1. The documents that are necessary for the accounting record are such as follow:
               ·         Bank statements
               ·         Cheque butts
               ·         Payment vouchers
               ·         Receipts
               ·         Bank-in slips
               ·         Cash/Petty cash book, if any
               ·         Stocks listing, if any
               ·         Purchases invoices and Sales invoices
               ·         Trade Debtor Statements and Trade Creditors Statements
               ·         Salary listing
               ·         Statement of EPF and Socso
               ·         Hire Purchase Agreement/Rental/Loan/S&P
               ·         Billing expenses/ Utilities costs
  1. For part-time staffs, the payment of EPF is based on the discretion of the Employer. However, for the permanent staffs, basically the Employer should consider on the payment of EPF.
  1. Regardless salaries for owner or staffs, the salaries will reduce the profit of the business. However, if the owner’s salaries want to be declared in Income Statement as an expenses, thus it will be considered as non-allowable expenses in tax computation. Hence, it is advisable for the salaries of the owner to be declared in drawing of the business.
  1. It is best for the business to submit Form B of the Income Tax Personal regardless whether the Company is first year or not to avoid queries from the Income Tax.
  1. As the first steps to build a business, you may remain the Sole Proprietor status. However, if the business cash flows are strong in the future, it depends on the owner discretions to register the business and upgrade from Sole Proprietor/ Enterprise to Sdn Bhd. In conclusion, if you think that your business target will be long lasting depending on your objectives, you should consider upgrading to Sdn Bhd.

We hope the explanations will help you to understand roughly on the pertaining matters.

Thank you.

Wednesday, January 14, 2015

Pendidik Perakaunan yang berintegriti

Pendidik yang berintergriti perlu untuk mendorong dan menggalakkan pelajar yang telah memilih bidang perakaunan sebagai kerjaya serta memenuhi permintaan majikan disamping untuk memahirkan bakat atas minat terhadap perakaunan.

Statistik menunjukkan negara kita memerlukan lagi sekurang-kurangnya 60,000 akauntan bertauliah menjelang 2020 bagi memenuhi aspirasi negara bagi menjadi sebuah negara yang berpendapatan tinggi dan bermodal kan rakyat yang berpengetahuan tinggi dalam menguruskan ekonomi keluarga.

Untuk mencapai objektif ini, Institut Akauntan Malaysia ( MIA ) bersama-sama dengan Persatuan Akauntan Bertauliah ( ACCA ) Malaysia baru-baru ini menjalankan satu seminar untuk guru-guru perakaunan dan kaunselor bertujuan untuk berkongsi pengetahuan dengan mereka mengenai prospek profesion perakaunan.

Menurut Johan Idris , Presiden MIA dan KPMG selaku rakan pengurusan , motivasi dan menggalakkan pelajar untuk mengikuti kursus perakaunan adalah satu cara untuk meningkatkan bilangan akauntan di negara ini.

Johan percaya bahawa pendidik boleh memainkan peranan mereka dengan mencadangkan perakaunan sebagai pilihan kerjaya yang baik kepada pelajar . Seseorang yang mempunyai kelulusan perakaunan mempunyai pilihan untuk menceburi pelbagai bidang. Malaysia mempunyai ruang yang cukup untuk menyerap lebih banyak akauntan . 

Menurut Johan, Singapura yang mempunyai penduduk seramai lima juta mempunyai kira-kira 30,000 akauntan manakala Australia dengan jumlah penduduk 28 juta mempunyai 150,000 akauntan .

"Manakala di Malaysia, dengan jumlah penduduk 30 juta kita hanya mempunyai lebih daripada 30,000 akauntan berdaftar dengan MIA", Katanya.

"Seseorang yang mendapat gelaran Akauntan Bertauliah adalah mereka yang mempunyai kelebihan 'thetechnical', merupakan kemahiran ihsanniah yang menjadi permintaan tinggi kepada ramai majikan. Mendapatkan kelayakan Akauntan Bertauliah akan membawa perubahan terutama apabila ia datang kepada anda memperolehi pekerjaan yang tepat ,"kata Nuraini Ismail , Naib presiden Perbendaharaan PETRONAS.

Wednesday, January 7, 2015

Accountancy is fun!

It can't be denied that accountancy is typically deemed as a dull and being subject which can be as much fun as watching paint dry. However, creativity and memory trainer and accountancy educator Jeyaraman Seenivasagam, a Tony Buzan licensed instructor, begs to differ. Using the right methods, learning accounting can be exhilarating and life-changing. An experienced tutor for over twenty years, Jeyaraman has had great success teaching accounting, math and English and even history,scienece, law and engineering. 

By applying creative learning and memory training techniques among other methods, his student have become more efficient and effective learners who require less study time and achieve improved grades. To date, he has coaches close to 50000 students including adults in eight countries. How does he do it? One critical step to make learning fun. ‘Learning is a fun and enjoyable experience. In any subject matter, student come into contact with concepts an principle that can challenge the mind more vigorously. When concepts become too abstract, the student will experience mental fatigue. This in turn leads to a lack of understanding and in time, loss of interest to learn any further’. Explained Jeyaraman via email.

Teachers today must understand that modern students have shorter attention spans. As such, Jeyaraman says that it is important to be constantly creative in the teaching approach.  Be more enthusiastic and capitalize on your strength to give refreshing break to your students. If you are a musically inclines person, you might want to create a jingle to remember certain accounting principles. If your personal interest is languages, you could share some meaningful quotes with your students to think about till you see them next. Remember, do anything and try everything to break the monotony.

sources-Accountancy today