What is accounting?
Accounting is the “language of business”, it is the process of recording and reporting financial transactions in an organised and systematic way.
Accounting is vital to providing insights into a business.
The recorded data are consolidated to form financial reports such as the income statement and balance sheet. Such information allows business owners to analyse, evaluate and compare past results, providing them with a clear view of the performance of their business.
Here at LEAP by LLL, our accounting service is delivered through an online accounting system. Our service not only allows you to track income and expenditures, we also provide transparency into your business and enables you to make smart business decisions to grow your business.
What are the accounting requirements in Hong Kong?
According to the Companies Ordinance, a company registered in Hong Kong must keep accounting records that are sufficient to show and explain the company’s transactions and to disclose with reasonable accuracy, at any time, the company’s financial position and financial performance.
As nearly everything that goes on in a business has an associated accounting impact, keeping proper accounting records can be a tedious and tricky task.
With our accounting services, you can rest assured that your accounting records are maintained in accordance with the Hong Kong Financial Reporting Standards and compliant with statutory requirements.