How An Accounting Company In Bangkok Works?

Thailand has improved its economy tremendously from 1985 to 1996. During this period, the economy of Thailand rose to an average of 12.2% annually. However, it has also experienced some crisis that helped modify the processes for industrial growths. In recent years, the country has emerged to become an industrial hub catering to many opportunities for industrialists and its people. And to improve the processes, it will need a high quality accounting company in Bangkok to record and monitor the growth.

Presently, the accounting and auditing standards in Thailand are created by the ICAAT (Institute of Certified Accountants and Auditors in Thailand). The guidelines for accounting and auditing especially for government taxes and financial statements abide by the ICAAT standards.

Up till today, the ICAAT have issued a number of accounting standards to regulate accounting policies, income statements, EPS, government taxes and various accounting modifications which have developed in recent years. The accounting system is regulated by the board of supervision for auditing practices, which oversee the accounting and auditing standards implemented and may make alternations when required. So here’s how some accounting company in Bangkok does the processes:

  • Accounting for a newly incorporated company

All companies operating in Thailand must have a TIN within sixty days of its incorporation.

  • Personal and corporate income tax falls under the direct tax

Accounting in Thailand is somehow different from other countries. Here you’ll notice that the CIT and PIT are parts of direct taxes. The corporate income taxes are charged to a partnership firm or company, which has been formed under the Company Act of Thailand. The same rules apply even if they are owned by foreign investors. However, foreign companies must accomplish a quarterly profit and loss statements and submit it to the regulating bodies.

  • The need to prepare accounts

All companies operating in Thailand will have to prepare transaction records. It can either be credit or debit transactions. The companies also need to prepare a list of transactions done in purchasing things outside Thailand. This rule is applicable to all types of business entities.

  • All records must be reviewed by an accountant

Business obligations and transactions must be carefully monitored by a certified accountant to ascertain any type of errors. These records must be submitted within few months after the end of a financial year.

Thailand’s Ambitious Initiative To Improve English Proficiency

If parents were given the choice, they will certainly enrol their children at International School in Bangkok for higher quality of education. Enrolling children at international schools is not a matter of status but to provide the child with an opportunity to explore their passion, ambition and interest. Besides that, with the number of expats in Thailand, they definitely need an international school where English is used as the medium of instruction.

In order to enhance English literacy among Thai children, the government of Thailand has planned an ambitious initiative to place foreign teachers in rural schools. Students in rural schools face a number of challenges aside from foreign language proficiency that restricts equality of opportunities. The project will be implemented during the 2019 academic year.

There is a certainly a dearth for better English skills in Thailand. This is the reason why during a meeting held in the middle of March, the Thai Ministry of Education expressed its intentions to work with Teaching English as a Foreign Language (TEFL) organizations as well as international schools for the recruitment of recent graduate teachers.

English is a very important language globally. Proficiency in the English language can open opportunities to students coming from depressed socio-economic backgrounds. National English standards in Thailand are shockingly low. English is a common language used in business. Most job interviews are conducted in English. Poor English skills lessen the chances of being able to land a job. On the other hand, proficiency in English tends to create a good impression.

According to the annual reports of English First, a Swiss-based education company and Thailand’s very own national assessment, O-net, the English language ability of Thais has severely stagnated compared to the ability of students from neighbouring Asian countries. In Vietnam, English language ability has dramatically improved.

Parents have a lot of options on the schools where they can enrol their children. There is an International School in Bangkok as well as government –run schools that ensure good quality education. However, in the international school children are exposed to diverse cultures at a very age. They learn that that there is a world outside their schools and homes.

Belfast Cheapest Place In The UK For Burials

A recent report from the Royal London Mutual Insurance Society LTD, the UK’s largest mutual insurer, has shed some light on the cost of funerals in the UK, and found that Belfast is the cheapest place to die in the country, with Presbyterians saving even more than most.

The report shows that the average cost of a funeral in Belfast sits at a hefty £3,306, but that’s considered an improvement over the rest of the country, with pricing varying from £3,535 in Scotland to £4,779 in London, which has the most expensive funeral rates in the country.

Funeral costs dropped down back in 2016, but the recent data from Royal London’s national funeral cost index reports that the costs of funerals have gone up since then, at a rate of 3%, which is only marginally ahead of the country’s rate of inflation. Back in 2017, the average cost of a funeral in the UK was about £3,784, whilst it was £3,675 the year prior.

Past the numbers, however, some are saying that there are several key issues that need to be addressed in the Northern Ireland region when it comes to giving farewells to the duly departed. Ian Milne of Milne Funeral Services says that, while the figures are a reliable source of information, they’re not an absolute. Every funeral is different, he says, adding that every last wish is unique; some people opt for cremation urns, some people opt for the traditional stuff.

He’s noticed that there’s fewer and fewer people are having issues with the cost of a funeral, and that prices vary based on individual tastes and religion. For example, he says a Catholic funeral, with its more elaborate headstone, tends to be more expensive.

He’s pointed out one issue, one that’s a cause of frustration for him and his business, as well as for anyone looking to leave their loved ones in cremation urns; the cost of cremating. Milne says that the Belfast City Council set the pricing for a cremation of a normal adult who lives in the area at £380, whilst people who live outside Belfast will have to fork over £626, even if they only live a few miles outside of Belfast.

The data released by Royal London only related to the cost of the actual burial itself, barring additional costs.

Tax Filings Show That The Operators Of PGA Tour’s Greenbrier Classic Are In The Hole

The nonprofit group operated and owned by Gov. Jim Justice, Old White Charities, have recently released some zoom filings that show that the group has been in a financial hole amounting to about $11.6 million, since the year 2016.

This is notable as the NPO has been allocating approximately 4% of its total expenditures to charities from 2010 to the 2015. In total, the OWC reported donating $4.9 million from 2010 to 2016, to many charities and received $16.5 million in grants and gifts in the same time span.

The flooding that struck the Greenbrier Resort, killing about two dozen people, prevented the place from hosting the Greenbrier Classic for the year. That year’s financial losses continuing a pattern of financial losses since the OWC first held the event.

501(c)(3) organizations, like nonprofit groups, are required to handle zoom filings annually to the Internal Revenue Service, who will the documents available for public viewing. GuideStar, Inc. a nonprofit information service that primarily handles reporting on the country’s NPOs, was the one responsible for filing the OWC’s 2016 report, while the older filings were revealed thanks to the ProPublica’s Nonprofit Explorer. As part of the Internal Revenue Code’s Section 501(c)(3), the OWC is a tax-exempt entity.

These documents show that the last years that the OWC’s filings indicated a profit gain was in 2010, where, of its $30.3 million revenue, $82,000 was profit, and 2012. For 2011, 2013, 2015 and 2016, the NPO had been taking heavy losses, amounting to $5.4 million, $2.5 million, $3.1 million and $4.7 million, respectively.

Elmer Coppoolse, the COO of the Greenbrier Resort, says that these heavy financial losses were due to the Greenbrier Classic not having enough corporate sponsorships. He says that the event needs more sponsors, something they work on every year, and he hopes that it will start to work.

He has expressed gratitude and admiration for Justice and his family, who continue to cushion the event’s losses with their own money, while also donation hundreds and thousands of dollars to charity annually.

Currently, the group’s 2017 tax filing is unavailable, by Coppoolse says that the tourney managed to bring in about $5 million revenue, following a setup cost of about $9 million.

Natural Insect Repellents To Avoid Being Bitten By A Mosquito

Mosquito bites are annoying for adults but most particularly when the baby is the one who is bitten. A mosquito bite can result into unwanted rashes and redness on the skin. The best protection that you can provide for the baby is deet free mosquito cream for babies in AU that does not contain any chemicals making it safe for people of all ages.

With summer fast approaching, families prefer to stay outdoors however; they have to deal with pesky mosquitoes. According to a report from Centres for Disease Control and Prevention, the danger of mosquito bites are more than the itchiness and redness on the skin because there is high potential of being exposed to health risks. The report also revealed that the number of diseases transmitted by mosquitoes, ticks and fleas have more than tripled since 2004.

According to Bug Guy, Dr. Mike Raupp, an entomologist from the University of Maryland, the viruses carried by mosquitoes include the chikungunya virus and West Nile virus. A number of factors have resulted into an upward direction. International travel has brought people into contact with the disease-carrying insects. Another reason is climate change.

In the past, insects like the Asian tiger mosquito were limited to places where they thrive. The insects do not like cold temperatures but with climate change, the Asian tiger mosquito has recently made inroads in the D.C. area which increases the transmission of diseases. The Lone Star tick which used to be indigenous to the South has made inroads on Eastern D.C.

According to Dr. Raupp, protection against mosquitoes is very critical. The gold standards of mosquito repellents like OFF contain deet. An option to those who want a deet-free mosquito repellent is BioUD which is made from natural ingredients like wild tomato plants or the oil of lemon eucalyptus.

Instead of using insect sprays and lotions, a better option is deet free mosquito cream for babies in AU that is functional and convenient. It is a practical solution when you want to bring your baby outdoors. The deet-free cream is also environmentally friendly and safe for all skin types.

 

Will The Changes In Reverse Mortgage Benefit The Consumer?

It is important for financial advisers to be properly updated with the recent changes in reverse mortgage so that they can discuss the program with their clients. According to the latest reverse mortgage information, recent changes will result into fewer seniors qualifying for the program. However, industry professionals claim that while adjustments are tough, the new rules will provide consumers with better deals.

One of the advantages is the reverse mortgage will be less expensive than it used to be. Because there is competition among lenders, consumers are often offered better interest deals. HECM will continue to be pursued because of the reduction in the annual mortgage insurance premiums notwithstanding the fact that origination fees will possibly return with loss of closing cost credits.

Based on the explanation of Michael McCully of New View Advisors, overall cost reduction will outweigh initial upfront fees. Borrowers do not like paying upfront closing fees. Lower margins and/or lower fixed rates will mean a lower overall cost which can result into bigger savings over the term of the loan than incremental upfront closing costs. If HECM offers a lower interest rate than home equity loan line of credit, consumers will opt for HECM is spite of the upfront fees.

Because of the reduction in possible profits, firms using expensive marketing strategies will return to old tactics that are relationship-based and less invasive. This will be a win-win situation because consumers are actually turned off by aggressive marketing techniques that have also destroyed the product’s reputation.

Many believe that changes can encourage the growth of a stronger proprietary market where consumers will have more choices. This will also open many opportunities for product development that will be beneficial to the reverse mortgage market and consumers. The fact is the changes that were made will make reverse mortgage as a viable option for retirement planning.

Aside from researching online for reverse mortgage information, financial advisers as well as senior homeowners can also attend free webinars and symposiums that provide reverse mortgage education. Different scenarios will be explained so that reverse mortgage can be used a supplemental income and support for retirement.