ACCOUNTING
Accounting Services
Our team of experts manages the data by analysing the client’s financial processes and identifying weaknesses in the master data and data-entry processes. We provide solutions on how to maintain internal controls, by identifying the effectiveness of key controls in the accounting process.
Our Key Accounting Services
Accounting Review
Ensuring regulatory compliance through thorough financial scrutiny.
Book Keeping
Preparing for audits to meet regulatory requirements.
Accounting Reconciliations
Addressing and resolving audit findings for compliance improvement.
MIS Reporting
Addressing and resolving audit findings for compliance improvement.
Accounting Review
An accounting review refers to the process of evaluating and assessing an organization’s financial records, statements, and accounting practices to ensure accuracy, compliance with accounting standards, and the overall reliability of the financial information. The objective of an accounting review is to identify any potential errors, inconsistencies, or deficiencies in the accounting records and financial statements and recommend corrective measures.
Key steps involved in conducting an accounting review are as follows:
Review Financial Statements
Verify Accounting Policies
Assess General Ledger
Analyze Key Accounts
Review Internal Controls
Check Compliance with Laws and Regulations
Assess Record-Keeping Practices
Identify Errors or Irregularities
Documentation and Reporting
Follow-Up and Monitoring
Their objective of Accounting review is to provide an independent and objective assessment of the organization’s financial records and practices, ensuring the accuracy and reliability of financial information for decision-making and compliance purposes.
Book-Keeping
Bookkeeping is the process of recording, organizing, and maintaining financial transactions and records of a business. It involves systematically recording the financial activities, such as sales, purchases, expenses, and receipts, and ensuring that the financial records are accurate, complete, and up-to-date.
Key elements and steps involved in bookkeeping are as follows:
Chart of Accounts
Recording Transactions
Double-Entry System
General Ledger
Subsidiary Ledgers
Reconciliation
Financial Reporting
Documentation and Record-Keeping
Bookkeeping is a foundational aspect of accounting and provides the basis for financial reporting and decision-making.
Accounting Reconciliations
Accounting reconciliations refer to the process of comparing and matching two sets of records to ensure their consistency and accuracy. Reconciliations are performed to identify and resolve any discrepancies or differences between the records, thereby ensuring the integrity of the financial information.
Common types of accounting reconciliations are given below:
Bank Reconciliation
Accounts Receivable Reconciliation
Accounts Payable Reconciliation
Inventory Reconciliation
General Ledger Reconciliation
Intercompany Reconciliation
Tax Reconciliation
Accounting reconciliations are important for identifying and resolving discrepancies, ensuring accurate financial reporting, and maintaining the integrity of financial records. Reconciliation processes may vary depending on the nature of the accounts and the specific requirements of the organization. It is essential to perform reconciliations on a regular basis and document the findings and adjustments made during the process.
MIS Reporting
Management Information System (MIS) reporting refers to the process of generating and presenting relevant and timely information to support management decision-making. MIS reports provide an overview of key performance indicators (KPIs), metrics, and other critical data that help managers monitor, analyze, and evaluate the performance of various business activities. Key aspects of MIS reporting are given below:The key principles and components of corporate governance include:
Data Collection and Integration
Data Analysis and Interpretation
Key Performance Indicators (KPIs)
Report Design and Formatting
Timeliness and Frequency
Dashboard Reporting
Variance Analysis
Narrative, Commentary Distribution and Access
Continuous Improvement
MIS reporting plays a vital role in providing decision-makers with the information needed to monitor performance, identify trends, and make informed decisions. It supports strategic planning, performance evaluation, and helps drive organizational growth and success.
