Bookkeeping is only the beginning of maintaining your accounting records. The next step comes when business owners want to see the numbers in the form of financial statements, i.e. balance sheet, Profit & Loss statement, cash flow statement, statement of changes in owner’s equity etc. on the basis of these financial statements, management makes decisions for future actions.
Business owners and managers use historical data presented in the form of financial statements for future planning and budgeting. They also want to see what is the correlation between profitability and cash generated from operations.
We provide accounting and financial reporting service for companies that are keen to focus on their business results and want to grow in future. We provide monthly, quarterly, and annual financial statements along with financial performance review including aging analysis of inventory, receivables, payables, and ratio analysis to measure business performance. We offer customized solution of management reporting as per the requirements of our clients.
By hiring our services of full time or part time accountant, you can avoid extra costs and time of placing ad, reviewing CVs, conducting interviews, short listing candidates, negotiation of wages, visa costs, Ministry of Labour requirements, medical insurance, air ticket, annual leave, gratuity etc. We provide cost effective and efficient solutions and take away the entire burden from your shoulders so that you can divert your focus and attention on your operations.
Experienced and qualified accountants of IDMS take care of accounting and financial reporting functions of your business and issue timely reports as per the requirement of the management.
We provide following services as part of financial reporting package:
- Creating chart of accounts
- Setting up the ledger
- Designing the financial statements
- Budgeting and Variance Analysis
- Cash Flow Management
- Preparation of Financial Statements monthly, quarterly, annually
- Preparation of customized reports to address different issues
- Financial Analysis
- Preparation of financial statements for audit purpose
- Coordinating with Auditors