Accounting

Accounting serves as the backbone of every business, providing a systematic and comprehensive framework for recording, summarizing, and interpreting financial transactions. It is often referred to as the “language of business” because it enables organizations to communicate their financial information to various stakeholders, make informed decisions, and ensure transparency and accountability. The below detail the importance of accounting.

Financial Information

Accounting is essential for generating accurate and reliable financial information. It allows organizations to track revenues, expenses, assets, and liabilities, providing a snapshot of the financial health and performance of the business. This information is vital for management, investors, lenders, and other stakeholders to assess the organization’s profitability, liquidity, and solvency.

Decision-Making

Accounting information forms the basis for decision-making at all levels of an organization. Managers rely on financial reports to analyze trends, evaluate performance, and make strategic decisions. Investors and creditors use financial statements to assess investment opportunities and determine the creditworthiness of a business. Accounting information helps stakeholders make informed choices and allocate resources effectively.

Compliance and Regulation

Accounting plays a crucial role in ensuring compliance with regulatory requirements and financial reporting standards. Organizations must adhere to established accounting principles, such as Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS), to provide accurate and comparable financial information. Compliance with accounting standards enhances transparency, reduces the risk of fraud, and fosters trust among stakeholders.

Switching to us is painless and straight forward task

  • We take care of the whole process for you with little to no effort required on your behalf. If appointed, we will contact your current accountant on your behalf and request all the information we need to carry on with your work. Our accounting services will ensure to enhance the efficiency in terms of time and money and at the same time be highly effective.

  • When you outsource your accounting function to us, you will receive your very own dedicated accountant, who will use your system with utmost confidentiality. Our fully qualified, experienced and friendly team will always be available to help you throughout the period for all your financial queries.

  • Benefitting from many years' experience of the team members (who are ex Big 4s and large consulting firms) working with small to large businesses and with up-to-date knowledge on issues, we offer unlimited help and assistance for all financial and tax matters including VAT.

  • Our accountants maintain professional independence but cater to management needs.

  • Month-end income statement, balance sheet, bank reconciliation and cash reconciliation and cash flow statements.

  • Accurate financial transactions input and output in compliance with relevant IFRS or GAAP principles.

  • Design chart of accounts in relevance to the business needs. We at ProAct understand that different business verticals require the differing design of chart of accounts that can produce segmental relevant financial information.

  • Accurate and comprehensive accounting reporting

  • Proper accounting methodologies and standards

  • Cost saving: No fixed salary, No annual leave pay, No Gratuity pay, No Air Ticket cost, No employee Insurance cost

  • No Work Permit, No Employment Visa