Financial accounting is concerned with classifying and measuring the transactions of a business and recording them. At the end of a period of time, usually a year but possibly more frequently, a profit and loss statement is prepared to show financial performance over that period of time and a balance sheet to show the financial position of the business at the end of the period. Other important parts of financial accounting are the report of the directors, notes relating to the accounts, auditor's report, notice of the annual general meeting etc.
Management accounting is concerned with future events and its main function is to provide financial information to managers. Such information will be needed by the managers so that they can plan the progress of the business, control the activities and see the financial implications of any decisions they may have to take.
Social welfare accounting is an entirely new phase in accounting development. It is concerned with the social effects of business decisions.
We provide a one stop accounting service to our clients within the requirements of current and applicable legislations, regulations and standards.
Some of the specialised accounting services provided, however not limited to these, are:
- Monthly accounting work with management accounts
- Reporting on the financial statements of Close Corporations
- Accounting advice
- Annual financial statements
- Accounting officer's report
- Confirmation of address
- Due Diligence
- Accounting records
- Maintaining accounting records of business entities