As from 1 January 2018, the new revenue standard affects the way you account for revenue. In July 2014, Hong Kong Institute of Certified Public Accountants (“HKICPA”) issued Hong Kong Financial Reporting Standard (HKFRS) 15, “Revenue from Contracts with Customers” that has been revised twice, in September 2015 then in June 2016. HKFRS 15 introduces…

CW CPA welcomes Hong Kong budget for Fiscal Year 2018-19 On 28 February 2018, the first budget under the new government led by HKSAR Chief Executive Carrie Lam was delivered by the Financial Secretary Paul MP Chan. The 2018-19 budget carries three main objectives: achieving diversified economy, investing for the future, and caring and sharing….

As an owner of a small business, you invest tremendous personal time and effort to develop your business. Your primary focus mainly lies on marketing, making sales and maintaining a better customer relationship. On the other hand, you want to save any cost that can be managed by yourself but often end up doing things…

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