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.
We can do something best for you
Here are some of the key reasons you can trust us for your small business:
- 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:
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
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.
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.
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.