Accounting firms these days provide a wide array of services. Out of these a few of the most common services that you can avail are inclusive of tax services, preparation of final accounts, managerial advisory service and external auditing etc.
The accountant at an accounting & bookkeeping services in Al Ain is responsible for preparing the income tax return of the client. Apart from that it is also their duty to manage their business and make sure that taxes are paid on time. Whenever there is tax assessments and investigations the accountant is responsible for representation the client. To deliver their services in an efficient manner they regularly update themselves about BIR regulations and local tax laws. This way they are able to give advice and minimize their client’s tax payments.
One of the basic services of an accounting firm is that of external auditing. For this service, the financial statements of the business are critically examined by an independent CPA. The CPA then gives an opinion on the fairness of the contents of the statement. An audit report is then made by the CPA. Considering that the auditor must be independent it is not possible for the business to have it done by one of their employees. Hence, this is handled by accounting and bookkeeping firms.
Budgeting is a service in which the audit firm you hire will help you manage cash by predicting any and all monitory objectives that are to come up in the future. The account will basically be responsible for periodically reviewing your cash flow and then make a basic comparison to what it should have been. Once done, he will carefully analyze the differences so that the possible causes of this difference can be determined. They will also help you learn whether the scenario is favorable or unfavorable for your business and the steps that should be taken to control it.
Managerial advisory service
Managerial advisory services are also offered by some of the best accounting firms out there. These services are basically focused on providing a bit of assistance to the management of the business. In such a case, accountants are responsible for advising their clients about different aspects including budgeting, organizational procedures, distribution, finance, product cost and so much more.
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