FRS39 Section 34A Impairment claims

Old rule – General and specific provisions for bad and doubtful debts were not tax deductible.

New rule (since Mar 6, 2006)

  1. Both individual and collective impairment must be recorded in the income statement and be eligible for tax deduction.
  2. For specific provisions to be tax deductible – subject to detailed info being available. What info? Not define by IRAS.

Pay rise for new recruits to Big Four

The tight labour market has forced the Big Four accounting firms to increase the starting salary twice in 6 months.

So what is the starting salary? Your neck must be straining to know?
As per today’s ST, you should get about $2,400 with about 1,000 vacancies.

So what are waiting for?
Faster finish your ACCA papers and get your job applications in.
P/S – Govt is paying as much as $2,900 for accounting graduates.