Accounting & Regulatory

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Accounting and Regulatory Services in Focus!

Accounting and regulatory services encompass a range of activities aimed at ensuring compliance with financial reporting standards and regulations while maintaining accurate and transparent financial records. Key activities include bookkeeping, financial reporting, tax compliance, regulatory compliance, and audit support.

  • icon Bookkeeping Services
  • icon MIS Reporting Service
  • icon Designing of Accounting Manual
  • icon Income Tax Planning and Return Filing
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Bookkeeping:

A majority of the businesspersons have the false notion that a bookkeeper’s work is basic data entry. There are also some, who have the misguided belief that bookkeeping is tied to taxation. The truth is, bookkeeping – quality bookkeeping – means timely and accurate accounting of business transactions by following the General Principles of Accounting. Quality bookkeeping can help the business owners and/or financial managers to use the data for drawing on various financial and accounting analysis in the form of MIS reports. These reports can in turn be applied in taking any crucial business decisions, thus making the business dynamic.

MIS Reporting:

As the saying goes, “Companies today are data rich, but information poor.” Management Information System reports or MIS reports help companies take advantage of the large number of data they generate by recording their daily transactions. MIS reports are summaries of key information for the company. MIS reports may include details on factors such as company performance, sales review, expense reports, bills payable and receivable – to name a few. These MIS reports paint a clear picture for the stakeholders of the organization to understand the various financial aspect of the business and make informed decisions.

Designing of Accounting Manual:

While the world of finance works on the globally accepted General Principles of Accounting, an organization needs to have a clear set of procedures that they incorporate for conducting their day-to-day business. These might be about internal workings of the finance department, their links to other departments of the organization, policies for payment and credit cycles, and many other such minute matters. When an accounting manual is developed, it lays the groundwork for a solid financial foundation. It spells out explicitly, in unambiguous terms what the business or its employees should do. It also acts as a training guide for every new employee, as well as a refresher for the existing employees. We, at Fintale Consultancy, study your accounting process and help you develop an Accounting Manual that complies with your business style while also meeting the technical criteria.

Income Tax Planning & Return Filing:

A business can legally pay lower taxes if they have a plan of action in place. Instead of evading taxes, which sooner or later catches up with the business, there is a better way of lowering your taxes. The answer to all your tax-related issue is proper Tax Planning. Tax Planning means an analysis of a financial situation or plan to ensure that all elements work together to allow you to pay the lowest taxes possible. Considerations of tax planning include the timing of income, size of income, the timing of purchases, and planning for expenditures. Fintale Consultancy can aid your business in tax planning in a manner that you don’t have to break a sweat when you see the amount of taxes you or your business is liable to pay. Along with tax planning, we also provide the service of return filing, which makes this service a one-stop-solution for all your income tax related issues.

Questions? You're covered.

A bookkeeper's role involves the timely and accurate recording of business transactions in accordance with the General Principles of Accounting. Unlike basic data entry, quality bookkeeping requires a deep understanding of accounting principles to ensure that financial records accurately reflect the business's operations. This process enables more sophisticated financial analysis and decision-making.

While bookkeeping itself is not solely focused on taxation, it forms the foundation of accurate tax preparation and compliance. By maintaining precise and up-to-date financial records, bookkeeping ensures that all financial transactions are accounted for, which is crucial for calculating tax liabilities, deductions, and credits accurately. However, its primary role is to record and analyze financial transactions for various business needs beyond taxation.

Quality bookkeeping provides financial managers and business owners with reliable data that can be used to generate Management Information System (MIS) reports. These reports offer valuable insights into the financial health of the business, enabling informed decision-making and strategic planning. By having access to accurate financial data, businesses can identify trends, optimize resources, and make decisions that drive growth and efficiency.

The General Principles of Accounting are guidelines that ensure financial information is recorded and reported accurately and consistently. These principles include the concepts of revenue recognition, matching, and accrual accounting, among others. Following these principles is crucial for bookkeepers because they ensure that financial records are reliable, comparable, and transparent, which is essential for internal analysis, regulatory compliance, and building trust with stakeholders.
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