Accounting & Bookkeeping Services

Recording financial transactions

All business transactions are systematically recorded to ensure accurate financial tracking. This forms the foundation for financial reporting and analysis.

Maintaining general ledger and subsidiary ledgers

The general ledger and subsidiary ledgers help track all financial activities, including assets, liabilities, income, and expenses. Keeping them updated ensures accurate financial management.

Accounts payable and receivable management

Managing accounts payable ensures timely payments to suppliers, while accounts receivable tracks customer payments. Proper handling helps maintain smooth cash flow.

Bank and credit card reconciliations

This process compares bank and credit card statements with company records to ensure accuracy. Any discrepancies are identified and corrected.

Payroll processing and compliance

Payroll management ensures employees are paid accurately and on time while adhering to tax and labor laws. Compliance reduces risks of legal issues and penalties.
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Petty cash management

Small daily business expenses are tracked through petty cash management. Proper control prevents misuse and maintains financial transparency.

Preparation of financial statements

Financial statements like Profit & Loss, Balance Sheet, and Cash Flow reports provide insights into business performance. These reports help stakeholders make informed decisions.

Management report

Reports on budgeting, forecasting, and variance analysis help businesses assess financial performance. These insights support strategic planning and cost management.

Audit preparation and support

Preparing financial records and documentation ensures a smooth and efficient audit process. Proper preparation helps in compliance and reduces audit risks.
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Compliance with IFRS, GAAP, or other accounting standards

Following financial standards like IFRS and GAAP ensures accurate and consistent reporting. Compliance helps businesses meet regulatory and investor expectations.

Financial planning and analysis

Businesses use financial data to plan for future growth and investment. This process helps optimize resources and improve profitability.

Cash flow management

Tracking and controlling cash inflows and outflows ensures a business stays financially stable. Proper management helps prevent cash shortages.

Business structuring and entity setup

Choosing the right business structure impacts taxation, liability, and legal obligations. Proper setup ensures efficiency and compliance with regulations.
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Internal control assessments and risk management

Reviewing internal controls helps identify financial risks and prevent fraud. Strong risk management ensures business security and operational efficiency.
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Fixed asset management

Tracking and maintaining long-term assets ensures accurate financial reporting and valuation. Proper management prevents asset loss and depreciation errors.

Inventory accounting

Recording and valuing inventory ensures accurate financial statements. Proper accounting helps manage stock levels and reduce losses.

Consolidation of financial statements for group companies

Financial reports from multiple entities are merged to create a single, unified report. This provides a clear financial picture of the entire business group.

Forensic accounting and fraud investigation

Financial records are analyzed to detect fraud and financial irregularities. Investigations help businesses prevent and address financial misconduct.

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Contact Information

+971 563123506 (UAE) , +91 8129172677 (IND)

info@macsassociates.com

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