Ecnolab.lk

09/12/2021

Frauds [ISA 240]

•Fraud Definition

An intentional act by one or more individuals among management, those charged with governance, employees, or third parties, involving the use of deception to obtain an unjust or illegal advantage.

•Types of Frauds

-Fraudulent Financial Reporting
-Misappropriation of Assets

Two examples of fraudulent financial reporting are accelerating the timing of recording sales revenue to increased reported sales and earnings, and recording expenses as fixed assets to increase earnings.

Misappropriation of asset is a fraud that involves the theft of an entity's asset.

•Why do we need to Mitigate the Frauds?

Fraud can encompass waste and abuse, improper payments, money laundering, terrorist financing, public security and cyber security. In the past, organizations had to take a fragmented approach to fraud prevention, using business rules and rudimentary analytics to look for anomalies to create alerts from separate data sets.

•How to Prevent the Frauds?

-Being alert on your day to day business process
-Use professional Skepticism to identify what could go wrong
- Strong internal control system should be in place
- Engage with the forensic specialist if needed

Do you have concerns with the Frauds in your business?

No need to struggle

We can give you tips and methods how to prevent the Frauds.

You can contact us
076-6455203
Ecnolab.lk

20/05/2021

Hope all of you are doing well under the prevailing situation of the country.🙏

Let's talk about the truth,

You started your business because you love what you do, and you probably don’t love keeping tabs on your finances. However, without visibility into how your company is performing, it’s hard to know where you need to improve and how to achieve your big goals.

Our virtual accounting services are ideal for SME business owners & freelancers who are at a growing stage in their business or are ready to grow and scale. You want to hand over the day-to-day financial responsibilities of your business so you can get clarity into your numbers and focus your energy on what you do best. Maybe you don’t have the time or expertise to do your own books, or maybe you’ve been doing it yourself for a while, but you hate this part of being an entrepreneur. Then this is the moment you need a trustworthy professional bookkeeper to manage your financials.

Don't miss out on the chance to grab your virtual professional bookkeeper at an affordable price 👉👉👉👉👉👉 contact us ( Tel - 0766455203)

Stay tuned with us
Stay safe and strong

Yours Sincerely,
Ecno Lab.

03/04/2021

Why Important?

From this post we a]re going to acknowledge you why bookkeeping is essential to your own business and to a freelancer as well.

1. As a Decision Making Factor.

The best decisions are made with access to all your business information. Bookkeeping provides all accurate information regarding your business, which allows you to make decisions for growth.

2. Important Data to Financial Analysis.

In analyzing your financial statements, you can easily manage your cash inflows and outflows i.e. your profit and loss. Bookkeeping is used to assess your business performance and identify your strengths and weaknesses.

Those are the Two generic circumstances every business owner or freelancer need to having a bookkeeper. Most important aspect of bookkeeping is to keep an accurate account of all records and keep them up to date. Accuracy is the most vital part of the bookkeeping process.Also bookkeeper should have a idea of proper accounting methods and regulation requirements as well to be accurate.

Now you have a solutions with Ecno Lab the professions of bookkeeping!!!!
❤🤝🙋‍♀️🙆‍♂️🙆‍♀️🧑‍💻👨‍💻

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25/03/2021

25/03/2021

Welcome to the !!!

Ecno-lab.lk

Get your professional bookkeeper at a price you can afford, and powerful financial reporting with zero learning curve.



We are a group of members running the accounting agency for provide the accounting services for SMEs and individuals (*Freelancers) at price every one can effort.



stay with us we will bring more informations on our services

Thank you & Stay safe