Muhammad Maqsood

CEO OF

GLOBAL CONSULTANCY AND TAX SERVICES (SMC) Pvt. Ltd

CAN GUIDE YOU BEST FOR YOUR BUSINESS NO MATTER IT IS A BIG SETUP OR SMALL ONE

WHY WE PREFFER SMALL BUSSINESS

Poor financial management is one of the primary reasons for small business failure especially in the first year of the business. Since small businesses have a limited budget and other resources, our accounting service plays a crucial role in providing information that help their businesses in its growth and development.

How we help small business owners

For small business owners, accounting is crucial and we can help them in following ways.

Keep a track of the cash flow.

To prevent your business cash flow from running dry, we will give you some steps and policies you should implement that policies for efficient record-keeping and a sound financial strategy.

Gives you a better grasp

Our accounting service gives you a better grasp of the well-being of the business. You can do this by learning to read a balance sheet, income statement, and cash flow statement

Dealing with business owners

We are more confident when dealing with business owners who have a handle on the business finances and actually understand financial implications

To understand the concepts of cost

To understand the concepts of fixed costs, variable costs and how to accurately cost your project, small business owners can rely our accounting service. These small business holders end up losing money on a project you thought would be a big earner

Make you safe from frauds

We will help you detect and avoid frauds and theft by customers, employees and suppliers. When you understand the business finance and dealings, you are better equipped with facing audits

Key to development

Whether you are a solo partner or employ staff, the key to growing your small business is to review your financial statements regularly and establish a detailed budget that will allow you to discover operational inefficiencies. Saving a little bit on several expenses can add up to big results over the long run and we can give you a very clear guidelines regarding these matters.

We can do something best for you

Here are some of the key reasons you can trust us for your small business:

WE WILL

  • Analyze the financial data and determine areas for improvement. This is crucial for the long-term health of the business
  • Prepare financial statements based on the Generally Accepted Accounting Principles
  • You will get customized advice based on your unique business needs
  • Using a third-party accountant ensures that you’ll receive unbiased information that is verifiable and objective
  • We act as a financial advisor and helps you with budgeting and monitoring cash flow on a steady basis. This will allow you to navigate any hurdles that occur in real time
  • We will help you during tax season as we can identify potential deductions and help avoid audits

What Is the Purpose of Our Accounting Service?

Accounting is often referred to as “Language of Business”. It is a means of communicating financial information to different users for decision making.

The main objectives of our accounting service are:

RECORDING TRANSACTIONS

Our primary role is to maintain a systematic, accurate and complete record of all financial transactions of a business. These records are the backbone of the accounting system. Business owners should be able to retrieve and review the transactions whenever required.

BUDGETING AND PLANNING

We are well aware that business owners need to plan how they allocate their limited resources including labor, machinery, equipment and cash towards accomplishing the objectives of the business.

An important component of business management, budgeting and planning enable businesses to plan ahead by anticipating the needs and resources. This helps in the coordination of different segments of an organization

DECISION MAKING

Our accounting service assists in a range of decision-making process and help owners in developing policies to increase the efficiency of business processes. Some examples of decisions based on accounting information include the price to be charged for products and services, the resources needed to make these products and services and financing and business opportunities

IMPACT ON YOUR BUSINESS PERFORMANCE

Using our accounting reports, business owners can determine how well a business is performing. The financial reports prepared by us are a reliable source of measuring the key performance indicators, so business owners can compare themselves against their past performance as well as against the competitors.

FINANCIAL POSITION

The financial statements generated at the end of the accounting cycle by us reflect the financial condition of a business at that time. It shows how much capital has been invested, how much funds the business has used, the profit and loss and the number of assets and liabilities of a business.

LIQUIDITY

A common reason for small business failure is the mismanagement of cash. We help in determining the liquidity of a business which refers to the cash and other liquid resources at your disposal to pay off financial commitments. The information reduces the risk of bankruptcy through detection of bottlenecks.

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