In this method, revenues are recorded when earned, and expenses are recorded when incurred (regardless of the time when the payments are actually made). The advantage of GAAP is that it gives an accurate picture of the state of the HOA and all its transactions at any given time. This is because transactions are recorded […]
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What is LPA? Why is LPA so important? The Lasting Power Attorney (LPA) is a legal document that allows a person who is at least 21 years of age (‘donor’), to voluntarily appoint one or more persons (‘donee(s)’) to make decisions and act on his/her behalf if he/she loses mental capacity one day. A donee can be appointed to act
What is the interest rate that SRS earns? I have many clients who thought that Supplementary Retirement Scheme (SRS) is currently earning the same interest as CPF-OA at 2.5% p.a. or CPF-SA at 4% p.a. They were confused about the two schemes. In actual fact, SRS is earning 0.05% p.a. saving account interest from the banks. The SRS is part
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