JBM Accountants, Management and Business Advisors.

08/02/2022

The Chinese have a tradition that is centuries old!
In this 21st Century they have unlocked the secrets to a successful economy.

09/01/2022

The Year 2022 is here!

For all SMEs who use a desktop version of QuickBooks Accounting Software for whatever reason; on-line help is not readily available and if you are not able to use the product to its full potential, we can assist on-site and render total peace-of-mind.

QuickBooks' global industry-type Chart of Accounts or Accounts List proffered during installation/set-up does not show the detailed "Trading Account" as traditionally narrated in all Bookkeeping/Accounting textbooks; in its stead everything is designed per se for the "Cost of Goods Sold" Account and category which has proven frustrating for those who are not ably conversant with "The Accounting Equation".

Postscript:

For most genuine Accounting Software the primary difference between Desktop and On-line Versions of the product(s) is one pays relatively more for the one-off Desktop version at the time of purchase than the On-line version which require a monthly or annual subscription fees.
One can use Desktop Versions for several years for "free" without having to purchase a later superceding version for various reasons including upgrading in the operating system used.
The producers being offshore based and paying for them in USD or AUD is always a sticky hurdle!

Unfortunately for Desktop versions, on-line help is (by design) NOT available.

Viewing "help" videos can become a taxing exercise for most users even when these products are narrated everywhere as being overtly "very user friendly".

Wishing one and all a pleasant Monday and a fruitful week ahead!
Maoro!

31/12/2021

For all who have visited this page and or interracted with us in person, by messages or other media we wish you all the best in 2022.
Thanking you indeed for being here in 2021!

13/12/2021

As today is the "start" of the Festive Season 2021/2022 we wish each and everyone who have visited this page, their families and loved ones a very Joyous and a Safe Festive Season 2021/2022!

24/09/2021

The Political will is here but rural and remote village based subsistent smallholder plot growers need direct intervention in both funding and extension services.
As with most things in life; still "easier said than done!!"
The foreign-owned Licenced Exporters still dictate FOB Lae port per kilogram price.

Papua New Guinea should take advantage of the sudden downfall of the coffee production in Brazil and increase investment in coffee. Agriculture Minister John...

24/09/2021

The simplified new grades give due prominence to smallholder plot farmers' coffees which has been well overdue.
Now if the FOB Lae export price can be harnessed; organised and functional smallholder growers' should see very tangible returns from their labour.
Thanking you NISIT and CIC.

Papa New Guinea’s national coffee regulatory authority has implemented new and simplified coffee grading standards. With this new scheme, a key obstacle that

18/09/2021

There is a general apprehensive perception with most MSMEs (Micro and Small Business persons) who are not keen to pay for services in compiling Annual Accounts/Financial Reports.

You are advised to the read the Fine Print in the Annual Income Tax Returns Forms published by the IRC - the Annual Accounts/Financial Reports are pre-requisites to compiling each Annual Income Tax Return for your business activity EACH and EVERY Trading Year.

You are further advised to cooperate with your cpa qualified accountant and tax agent to become compliant with both the IPA and the IRC.

11/09/2021

Thanking you CG.
This measure should instill some prudence in the valuations determined by registered valuers.

PUBLIC NOTICE

INTERNAL REVENUE COMMISSION MANDATORY VALUATION FOR ALL STAMP DUTY APPLICATIONS

Release date: 10 | 09 | 21

This notice serves to inform all taxpayers, real estate agents, conveyancing lawyers, interested persons, and the general public that effective 30th September 2021, all stamp duty applications will be subjected to an independent valuation.

The Internal Revenue Commission expects all applicants for stamp duty, to be honest in their declarations. However, this has not been the case. There has been widespread criminal evasion of stamp duty taxes through under-declaration of property values. We have also discovered incidences of false declaration where individuals are purchasing commercial properties under the guise of ‘first home buyer.’ These are amongst the major revenue leakage areas and have significantly affected the government’s tax revenue.

Consistent with section 14A(3) of the Stamp Duties Act (Chapter 117), several experienced property valuerswill be appointed to value the property before an assessment is finalized and the transfer instrument is stamped.

Beware that those who intentionally evade or attempt to evade any stamp duty and those who aid and abet others to escape taxes will be charged administratively and criminally. We are profiling several cases for possible prosecution.

06/09/2021

This innovative presentation at the recent Peoples Party Convention stole the "show".
Could the person who designed and wove the outfit be made known so we all can order them for our daughters/ladies ... .