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Starting from 27 December 2023, other than the Unique Business Identifier (UBI) will be implement, there is also List of Code and Description of Business Nature to be updated. What is the new compliance? Company Registry required all Hong Kong Limited Companies to select the code and business nature that closest match with their major …
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Hong Kong Government launched a number of talent admission schemes to enrich the talent pool. In order to enhancing Hong Kong’s international competitiveness, 4 schemes are updated. Which schemes are adjusted? Pattern of limited of stay under various admission schemes Names of Schemes Old Pattern New Pattern No. of years Quality Migrant Admission Scheme (QMAS) …
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香港公司注册处已发出新通告，从2023年12月27日开始，香港公司将进入-”唯一业务识别码”的第二实施阶段，有助政府提升公共服务水平，以及更有效地监管法律实体。 什么是“唯一业务识别码”？ “唯一业务识别码”可用于部门和部门或企业相互间的沟通和数据交流，以减少[…]
Hong Kong Chief Executive Mr. John LEE presented his second policy address on 25 Oct 2023. He has established a result-oriented culture. So, the 2023 policy address still stick on this approach. Centre O is going to have a highlight in the business policy address. Reinforce Over the business policy address and build a diversified …
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Implementation of Unique Business Identifier Company Registry announces the implementation of Phase 2 of Unique Business Identifier (UBI) on 27 December 2023. The purpose of using UBI is helping government to enhance public service delivery and regulate entities more effectively. What is UBI? UBI enables governments and businesses to distinctly identify legal entities in various …
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An audit report is the examination of the financial report of an organisation. As presented in the annual report by an independent of the organisation. The report includes a balance sheet, an income statement, a statement of changes in equity, a cash flow statement, and notes comprising a summary of significant accounting policies and other …
Balance Sheet is a snapshot of your business’s financial condition at a single point in time. It shows what you own (your assets) vs what you owe (your liabilities). The difference between the two is often used as a starting point for valuing a business. Types of Assets Current Assets Current assets have a lifespan …
A profit and loss statement is a financial report that shows how much your business has spent and earned over a specified time. It also shows whether you’ve made a profit or a loss over that time – hence the name. A profit and loss statement might also be called a P&L or an income …
Everybody has heard of a management account, many of them may see a few of management accounts in the past. So, what is a management account? Management accounts are financial reports that track various financial figures and metrics, and provide insight into the current financial health of a business. In principle they are similar to …
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Submitting a year end audit is a company’s obligation. As an entrepreneur in Hong Kong, you have no option to avoid to prepare your audit report. Preparing a report seems to be headache. However, if you plan ahead, then the auditing is an essential tool to help you know better of your company’s financial status. …