Accounting
Accounting encompasses a wide variety of financial and accounting services aimed at recording, classifying, interpreting, and presenting financial and accounting information of a company. The services included in accounting are:
Accounting encompasses a wide variety of financial and accounting services aimed at recording, classifying, interpreting, and presenting financial and accounting information of a company. The services included in accounting are:
1
Accounting
record keeping:
involves the systematic collection and recording of all financial transactions of the company.
2
Preparation of
financial statements:
includes the preparation of basic financial statements such as the balance sheet, income statement, and cash flow statement.
3
Financial
analysis:
involves the interpretation and analysis of the company’s financial information to assist in business decision making.
4
Tax
planning:
accountants can help companies plan their tax strategy and comply with their tax obligations.
5
Payroll
management:
includes the calculation and administration of wages, other payments to employees of the company, and third parties such as the Social Security Fund, National Insurance Institute, and the Ministry of Finance.
6
Accounting and
financial advisory:
accountants can provide accounting and financial advice to companies to assist in business decision making.