Accounting and MIS
“Increasingly rigorous requirements of International Accounting Standards and the general move to their acceptance as the reporting framework means that even the best are stretched in applying all aspects of all standards.”
Outsourcing will benefit the head count, which is often a significant issue in today’s competitive environment. Outsourcing also eliminates the hiatus caused by accounts staff going on leave or during times of heavy work pressure such as year end reporting. We provide a professional and reliable accounting and financial reporting service using up to date accounting software. Our staff keep abreast of ever-changing accounting rules and keep you informed of the accounting implications of transactions you are undertaking. We take the time to understand your business and thereby are able to provide relevant and timely management information to enable business owners and management to take informed decisions at the right time. Such MIS systems are incorporated into the establishment of the accounting and financial reporting systems.
Compilation and Maintenance of Fixed Asset Register
“Significant resources are invested in fixed assets whether they be buildings, plant and equipment, Information Technology or office interiors. Confirming that these assets physically exist, that they have not been impaired and still continue to perform their intended functions forms an integral part of an entity’s accounting for its assets.”
“Creation of and maintaining a fixed asset register together with periodic physical verification of fixed assets becomes a critical function for asset intensive entities. Failure to do this often results in over or understatement of assets in the entity’s balance sheet. Physical verification also becomes crucial when external auditors need some assurance that the assets included in the balance sheet do exist and an independent confirmation can assist in providing such assurance.”
We can create a fixed asset register based on invoices and proof of purchase, physically verify the existence of such assets, classify them into various categories, tag them for easier identification and reconcile their value with the balance sheet. We can also assist with their coding for seamless integration into the accounting records. The details can be captured in MS Excel and then imported into the accounting records of the entity.