If your company needs to purchase raw lumber for $3,000 to build more furniture, you would record the $3,000 as an expense immediately, even if you aren’t able to pay until next week or next month. On the other hand, the IFRS framework was developed over a lengthy period of time, in a process that […]

It is also important that the meeting minutes are taken as certain entities may require a copy of notes as needed. By extension, this may have implications in to where you operate and ultimately decide to incorporate. It’s sometimes best to incorporate in the state that the business is operating in as there are different […]