We provide support with our accounting, finance, legal & tax services based on our
clients’ needs and requirements to ensure clients’ satisfaction.
Accounting management is a key element of the management process; where it involves the identification, generation, presentation, interpretation and the use of relevant information to help managers run their organizations. As such it involves the application of accounting and financial management to create, protect and increase value for the stakeholders of the organization concerned.
Statements’ team has a solid experience in accounting management, internal control, reporting, accounting systems & procedures. We offer full-range of accounting services as well as providing full support to newly established organizations.
The package includes three main services:
A. Accounting System
To maintain any kind of successful business, the accounting system is crucial. All businesses require an accurate accounting system to provide them with up-to-date financial information that drives all their daily decisions.
Statements’ experts are well experienced in designing successful accounting systems and procedures which collect the data, classify them, and deliver the specifications of your particular business. In the same time, it possesses an efficient network of internal controls and methods for reducing the chances of user error.
How do we work?
Review the business cycle and work requirements
Design a chart of accounts with categories
Map the accounting cycle and functions allocation
Prepare templates and reports to be shared with the management on frequent basis in order to facilitate monitoring the business activities
Chart of Accounts: A detailed chart with categories
Function Allocation Report: Determine the required functions based on the business needs
Templates: Design templates and reports to be shared with the decision makers on regular basis
B. Internal Control
Internal control is a process that ensures the integrity of financial and accounting information, meets operational and profitability targets and transmit management policies throughout the organization. Our systems ensure the quality of the internal procedures and accounting reporting.
1. Segregation of Duties: Splitting responsibility for bookkeeping, deposits, reporting and auditing
2. Access Control: Controlling access to different parts of an accounting system to keep unauthorized users out of the system
3. Physical Audit: Physical counting of cash, inventory and any physical assets tracked in the accounting system
4. Documentation: Standardizing documents used for financial transactions to maintain consistency in record keeping over time
5. Trial Balance: Calculate trial balance frequently to provide regular insights and allow you to discover discrepancies as early as possible
6. Approval Authority: Adding a layer of responsibility by requiring specific managers to authorize certain types of transactions according to a clear approval matrix
Roles & Responsibilities: Clarify the duties of each position and function
Archiving System: Apply documentation procedures by accounting period
Authority Matrix: Map the approval cycle and assigned team
Accounting reports come in various formats and provide different information. However, they all have one thing in common: they give useful information about the business to those who are interested such as owners, executives & investors. The financial position of the business is shown in the Balance Sheet while the financial performance of the business is shown in the Income Statement (also known as the profit and loss report), and the business cash flows are shown in the Cash Flow Statement. This will become clearer as you go through each of these reports that comprise the financial statements.
Statements will help you to understand how well the business is performing and show you details about the business income, expenses, assets & all other details that you might need to know about your business.
How do we work?
Review the accounting system and procedures
Monitor fixed assets system & depreciation
Prepare financial statements and schedules
Assist with analyzing financial statements and provide advice
Statement of Financial Position: Company position at the end of a specific period
Income Statement: Company profitability with clarification of revenues and cost items
Owners’ Equity Statement: Change in shareholder balances
Financial management is about planning, organizing, directing and controlling the financial activities in the organization.
We help you to accomplish the long run financial management objective which is maximizing the profits through applying general management principles to the financial resources of the business. We also maintain proper cash flow which ensures the survival of the company and that is a short run objective of financial management.
The package includes three main services:
A. Financial Planning
Financial planning or financial forecast is an on going process that helps you to predict the income, expenses and achievement made, based on current variables.
We provide you with a complete overview of the company’s activities during a certain period of time to be able to make sensible decisions and correction actions before it’s too late.
Our Financial Planning Process includes 4 steps:
1. Review: Review and collect information
2. Analyze: Analyze and asses financial status
3. Develop: Develop financial Planning model
4. Implement: Financial Plan implementation
Financial Plan: Detailed plan as well as P&L projection with recommendations
B. Cash Flow Management
Cash flow management is the process of monitoring, analyzing, and adjusting your business' cash flow. As a business owner you need to have a cash flow analysis on a regular basis and use cash flow forecasting so you can take the steps necessary to avoid cash flow problems.
Statements helps you to balance between the inflows and outflows to be able to pay liabilities for any extended length of time.
Cash Flow Budget: Budget model and regular updates
Actual VS. Planned: Monitor inflows & outflows on monthly basis and highlight variances
C. Financial Analysis
At the end of a financial period, it is important to analyze the results in terms of revenues, cost and profitability to determine the organization’s position and stability.
Statements offers comprehensive financial statements analysis and budget analysis as well as advanced financial analysis reports to help the management in making correction actions and strategic decisions
Financial Statements Analysis Report: Detailed & comprehensive analysis with recommendations
Advanced Reports: Special reports based on specific needs
We are a group of professionals dedicated to setting the standard for exceptional client service. Adding to organized tax practice across different geographic areas & diverse business types. Our team can help clients starting business strategies effectively through local, regional & Global insight on the latest developments in tax policy, legislation & tax implications. Our exceptional client service represents a dedication to going above and beyond expectations in every working relationship. We strive to develop a detailed understanding of our clients’ business and industry sector to offer insights on market developments and help our clients develop effective strategies and business models. Our people also can identify ways to help increase value, efficiency and control in core functions of business regarding tax. Our tax professionals draw on their diverse perspectives and skills to give you a seamless service through all the challenges of planning, financial accounting, tax compliance and maintaining effective relationships with the tax authorities.
1-Tax Accounting & Transactions:
Every transaction has tax implications whether it’s restructuring, disposals, acquisition etc. Understanding & planning for these implications can reduce transaction risk & enhance the opportunity. Our transaction tax services comprise professional advisors who are ready for help in such things through their local & global tax knowledge. Our team can work with you throughout the transaction life cycle from initial due diligence through post-deal implementation.
B-Tax Return Filing :
Our tax services not only limited to transaction monitoring & review but also extend to translation of this transaction in tax return submitted to tax authority according to laws & legislations for each type of tax as below:
|VAT return (monthly) Corporate income tax return (yearly) Withholding tax acknowledgment (quarter)||Payroll tax declaration (monthly , quarter & yearly) Stamp tax declaration (monthly) Real estate tax declaration (yearly)|
Our team has strong relationship with tax authorities & the experience to manage & finalize tax inspections for all types of tax in all tax sectors & different types of business activities. We can segregate our inspections services as below: Documentation preparation & control Samples selection & review Reporting tax exposures & risk areas arising from inspection results Providing solutions & recommended scenarios for inspection results
D-Transfer Pricing :
Tax group make the required study for the local market & across borders markets prices for the targeted client entity branches & use along with our experience to know what really works and translate that to an effective operating model
Our people do the required research, audit, review of financial records & confirm all facts before entering into an agreement, financial transaction with other party of potential investment or product.
2-Tax planning & Compliance:
Our tax professionals draw on their diverse perspectives and skills to give you a seamless service through all the challenges of planning, financial accounting, tax compliance and maintaining effective relationships with the tax authorities. Benefits of Tax Planning Get a clear & full picture for company tax structure by analyzing the financial situation from tax prospective. Following up all tax laws & legislations updates & Maximize the benefits & reduce liabilities arising from misunderstanding & wrong application of tax laws. Risk management through tax exposure reporting & tax situation updates. Tax planning cover all company types’ startups, running businesses also in all company transactions :
|Merge, Acquisitions||Split||Financing Refinancing|
3-Tax Consulting Services
Our tax professionals can provide tax laws update services with the best way of practice to avoid the controversy & misunderstanding during tax application process & also provide consulting services based on each case received, & we use all types of communication to facilitate & deliver our service in the fastest way (Via phone or E-mail).
Legal Services1-Establishment of entities (local & offshore). 2-Post establishment. 3-Mergers and acquisitions. 4-Drafting and Reviewing Contracts. 5-Intellectual property. 6-Employment and social insurance. 7-Due diligence 8-Litigation & Arbitration. 9-Legal Studies & Researches