Excellence in Accounting & Advisory
Accounting plays a key role in running a business because: It helps you track income and expenditures Ensure statutory compliance Provide investors, management, and government with quantitative financial information which can be used in making business decisions.
Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analysing, and reporting these transactions to oversight agencies, regulators, and tax collection entities. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company’s operations, financial position, and cash […]
While it may seem obvious, detailed, thorough bookkeeping is crucial for businesses of all sizes. Seemingly straightforward, bookkeeping quickly becomes more complex with the introduction of tax, assets, loans, and investments. Tracking the financial activities of a business is the truest purpose of bookkeeping, meaning it allows you to keep an up-to-date record of the […]
Bookkeeping is the recording, on a day-to-day basis, of the financial transactions and information pertaining to a business. It ensures that records of the individual financial transactions are correct, up-to-date and comprehensive. Accuracy is therefore vital to the process. Bookkeeping provides the information from which accounts are prepared. It’s a distinct process, that occurs within […]
Internal audits Internal audits are performed by internal employees of a company or organization. The audits are not distributed outside the company. Instead, they are prepared for the use of management and other internal stakeholders. Internal audits are used to improve decision-making within a company by providing managers with actionable items to improve internal controls. […]
In accounting, accuracy is crucial. Incorrect or improperly reported numbers can lead to all kinds of problems, from misguided strategic planning to cash flow issues, which could even leave an entity unable to pay employees. But how can one be positive your numbers are accurate? The answer is an audit. A thorough examination of everything […]
Audit is an important term used in accounting that describes the examination and verification of a company’s financial records. It is to ensure that transactions are represented fairly and accurately. Further, audits are performed to ensure that financial statements are prepared in accordance with the relevant accounting standards. The three primary financial statements are: Income […]
Financial auditing is the process of examining an organization’s (or individual’s) financial records to determine if they are accurate and in accordance with any applicable rules (including accepted accounting standards), regulations, and laws. External auditors come in from outside the organization to examine accounting and financial records and provide an independent opinion on these […]