Financial Statements and periodic reviews
Accounting and bookkeeping services are essential for businesses to maintain accurate financial records and make informed decisions. Accounting involves recording, classifying, and summarizing financial transactions, while bookkeeping involves the daily recording of financial transactions.
Accounting and bookkeeping services can be provided by internal staff but if it is outsourced to team of our experts then the specific tasks performed in these services may include: as follow.
- Recording financial transactions: This involves recording all financial transactions, including sales, purchases, and expenses, in an organized manner.
- Reconciling bank statements: Comparing bank statements with financial records to ensure that all transactions are accounted for and there are no discrepancies.
- Generating financial statements: preparing financial statements such as balance sheets, income statements, and cash flow statements, which provide an overview of the company’s financial performance.
- Managing accounts payable and accounts receivable: managing payments to suppliers and collecting payments from customers.
- Budgeting and forecasting: creating a budget and forecasting future financial performance based on historical data.
We prepare business financial statement which is presentable for external audit and tax audit to save time and resources for businesses while ensuring compliance with accounting standards and regulations.