The main advantage of double-entry accounting is thorough and comprehensive control over company processes. It means not only monitoring of the Profit and Loss account, but also receivables and liabilities and company property. Moreover, profit calculation is more precise due to the matching principle. Such data are often required by banking institutions and could condition providing of external financing. Accounting and external data, competently matched, may result in setting up valuable system of management reporting, supporting day-to-day decision making process.
Accounting PL GAAP service comprises:
Monthly services
- Running books in line with legal regulations
- Preparation of income tax and VAT returns and filing to the tax office
- Consolidation reports (optional)
- Reporting according to International Financial Reporting Standards (optional)
Annual services
- Preparation of annual tax returns
- Preparation of annual financial statements
- Balance confirmations with counterparties
- Stocktaking support
Additional services
- Representation in the tax office and other state bodies
- Support to company formation
- Reports to statistical office (GUS)