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.

What You Need To Know About Branding In Thailand

When branding in Thailand, you place the most significant aspect of a business whether large or small. An effective brand strategy will provide a major advancement to a competing business. So let’s define what “branding” is and how it can affect a small or huge business.

A customer is promised by a business by offering them a high quality brand. It informs the customer on what to expect from the goods that are offered. It distinguishes your offering from your competitors. The offered brand is derived from who you are, what you wish to be, and how people can see you. You definitely need to target audience to make your products or services sell.

How to do branding in Thailand is through your logo. This will be integrated in your website, the packaging of your merchandise and the promotional materials used to communicate your brand.

Defining Your Brand

When you define your brand, it’s like traveling your business to self-discovery. Branding is difficult, time consuming and uncomfortable, as you need to define your company’s mission; the benefits and features of your merchandise; what current and prospective customers think about your products; and, what qualities you want your customers to associate with your business.

Do more research and learn more what your current and prospective customers need and aspire. Really find out what they think about your business.

Once you’ve defined the branding in Thailand, how do you make it efficient? Here are simple tips that make things possible:

  • Create a good logo and show it everywhere.
  • Write down a brand message. Write down a messaging used to communicate your brand. Your employees must know your brand features.
  • Create a tone that reflects your brand. The tone must be appropriate for all written communication and integrated with all your material images. You can be either conversational or formal as required by the gist.
  • Develop a standard for your marketing materials. Use the same format like how you place your logo, the colour scheme used and how it feels and look. You need to be consistent all throughout.
  • Be real with your brand. You need to promise customers how you deliver your brand so that they will return to you or refer you to other customers.

Hitachi Looking For Consulting Assets, Looking To Add At Least 6,000 Jobs

The Japanese electric company, Hitachi Ltd., responsible for a number of famous products such as the Hitachi body wand, is looking for companies and employees overseas. Particularly, the company is looking for consulting and system engineering related workers and companies to add at least 6,000 workers to boost product sales.

The Tokyo-based company has recently set aside approximately ¥800B/$7B for acquisitions to be made over the next two years, according to a statement made by MitsuakiNishiyama, the company’s Chief Financial Officer.

He says that overseas is where Hitachi is lacking in manpower, and that the company needs to add people to solve problems, introduce products or new iterations of old products such as the Hitachi body wand, as well as handle repair and maintenance work.

The company has been seeking out potential purchases abroad, putting units for sale and pared costs, all to improve the company’s competitiveness against their rivals such as Siemens AG. Part of its budgeted plan includes investing 1 trillion yet throughout a 3 year time span, up until March of 2019. Hitachi, however, hasn’t made much headway, but did manage to purchase several companies this year, including Accudyne Industries earlier in 2017. By the end of March, the company had ¥765B in cash and equivalents.

Hitachi’s shares fell to ¥683.9 as of 11:04 AM JST, Friday, a marked 0.9% decrease. However, the company’s stock has advanced by 8.2% this year, with a 4.7% gain in the Nikkei 225 Stock Average.

According to Nishiyama, the company wants to use its money to take advantage of good investment opportunities; focusing on growth. He says that Hitachi is not considering share buybacks.

He adds that the company is mostly finished in selling stakes in the firms that it owned. Hitachi has sold stakes in its distribution and finance subsidiaries, as well as merging its air-conditioning business. In the month of April, KKR & Co. offered to buy a controlling stake in Hitachi Kokusai Electric Inc., which required the acquisition of the company’s majority shares.

During April, as well, Hitachi acquired the Sullair brand from Accudyne for access to a global sales networked primarily aimed at North America. The company and CVC Capital Partners has also set a joint offer for the purchase of Landis+Gyr from Toshiba Corp. and Innovation Network Corp., according to a confidential source privy to the interaction.

Hitachi is currently increasing its use of digital technology to help boost its product sales, and is looking to the consultancy field to think up new solutions for clients regarding repair and maintenance.

Businesses Debates Over Bed Tax

There is an ongoing discussion between the chambers of commerce and the business owners as to the fees that tourists should be paying when it comes to booking a hotel room.

The Board of Directors of CVB or the Mat-Su Convention and Visitors Bureau is now proposing that the transient accommodations tax or what is more popularly called as bed tax should be increased. This increase in the current bed tax is a solution to the funding problem for the finishing phase of the Mat-Su Valley Gateway Visitors Center. This current construction is estimated to be $5.8 million in total and in its final construction phase.

As of the moment, the borough is receiving a bed tax of 5 per cent. This means that for a hotel room that is booked at $100, the borough should have $5 as the revenue from the bed tax imposed. A voting occurred last November 16 in order for the CVB board to have the power to increase the bed tax from 5 per cent to 8 per cent. With this proposal, a debate was started among the local tourism business regarding the effect it will cause.

If the increase is pushed through, the bureau will have a considerable amount of investment coming from the bed tax. According to a voting done by the borough last November 3, the sale of the property will be given to the project amounting to $1.2 million. This amount was given by the Board of Directors. The borough has a previous acquisition of Homestead RV Park which amounted to $1 million, a property that used to belong to Matanuska Electric Association. The design contract of their new construction has been given to Wolf Architecture with a contract price of $1.2 million.

With these data, it shows that the borough has already funneled $3.6 million of its money for new facility. As for the bed tax, the discussion regarding the increase is still on its early phases.

If you are in Australia, worry no more about bed tax and buy your own king single bed

The Different Types Of Boiler Operator Jobs

There are two primary jobs of a boiler operator: working for boiling companies and equipment maintenance. A boiler operator will work with an operating engineer in maintaining boilers that are used to generate power. To become a boiler operator, one would need a community college training apprenticeship program. Boiler operators usually work in power generating companies or in manufacturing companies where they can operate their own equipment in creating power. The main focus of this job is maintenance and repair of equipment. This is a dangerous job because of the worker’s close proximity to pressurized steam and heating devices.

There are various jobs of a boiler operator which is available in the property management as well as maintenance sector. Maintenance forms most of the work for most boiler operators. Record keeping is very crucial and one is responsible in keeping excellent records of problems, issues and maintenance. Reparation of parts and equipment will require training and skill with the devices. One should know and understand how the system works. This can be a very dangerous job and the job reportedly has a higher than normal health risk. The job of a boiler operator will typically center on the installation of the equipment. The engineer will train the building operations staff. However, there are many boiler operators that provide additional insights and tips to their counterparts.

Workers who report the highest satisfaction in their boiler operator jobs enjoy while working with their hands, working independently and problem solving. The level of positions which are available varies by level of education and industry. This career has experienced a decline in demand as more firms move away from the steam based power plants and implement systems run by computers. Those engaged in the boiler operating jobs have limited number of career advancements. Regardless of the industry that they had initial experience with, the skills are transferable to other kinds of boilers. This law will allow the operator the chance to use their skills again. It is important to take note that while demand in the industry of boiler repairs is decreasing in North America; it is increasing in Europe and other parts of the globe.

Young Architects And Engineers Encourage Communal Living In Perth

The homeowners of Perth need to embrace living communally and stop being greedy of their spaces if they want to make a solution regarding their problem of affordability crisis. This is according to the leading engineers and architects. There were six winners hailed during the West Australia Housing Authority’s designability competition. The winners had different views on how to improve the landscape of Perth. As a team though, they were able to impress a panel of industry judges and won $10,000 prize with the design that they did for an eight storey building.

The competition conducted was aimed at addressing the current misconception that affordable housing is usually cheap and nasty. It was likewise intended for the redevelopment of the department’s Fremantle’s Holland St public complex. The students made use of a design that incorporated communal spaces, vegetable gardens which can be readily rented out and few car bays in order to encourage residents to walk or go car-free. The proponents said that they tried to communicate an idea and not just a building. They likewise looked at sustainable materials like fly ash concrete, which is made from coal waste and are also created a mix of townhouses. It also has one, two or three bedroom apartments and these are constructed in order to provide diversity and to support a multi-generational living. If the project is realized, the 24meter tall building would act as a “local landmark”, making people know that they are five minutes away from Fremantle.

Serena Pangestu, an UWA architecture student said that there needed to be more influences which are driven by architecture in the housing designs of Perth in order to create buildings which would encourage communal living as well as affordability of housing prices. Currently, about 2 percent of design in buildings involves the work of architects. According to the student, it is quite depressing that the numbers are very low. Most people think that architecture is just about big buildings and disregard the other services that are offered with architecture. Even granny flats WA would also require the services of architects in order to have a functional and great space to live.