Full-set Accounts Handling & Financial Services

a)  Full-set accounts preparation at selective intervals - monthly, bi-monthly, quarterly, or annually
b)  Clearance of accounts lagging
c)  Financial statements preparation
d)  Establishment and management of cost accounting system

What problems on accounts keeping?

Thorny problems on accounts keeping often encountered by small or medium size sole proprietors, partnerships, or individual business operators :

(1)	lack of manpower, unavailability of time, or lack of required technical knowledge
(2)	tremendous difficulty in enhancing the technical ability of the staff
(3)	all kinds of troubles caused by accounts lagging
(4)	the accounting staff being incapable of producing the required financial information
(5)	the ever-increasing ratio of the cost of accounting staff to the overall administration expenses
(6)	lack of effective way to reduce the salary of the accounting staff
(7)	internally generated accounting information being unable to satisfy the demand of the Inland Revenue Department
(8)	mingling of the placement of the assets of the company and shareholders in the company's accounts
(9)	reject by banks of credit facility application due to chaotic accounts
(10)	disputes and conflict between shareholders (or business partners) due to poorly managed accounts.

 

Why need to have an effective cost accounting system?

Importance of having an effective cost accounting system :

(1)	being a important cost control tool for the management of the company
(2)	accurate determination of unit cost of the products help determine suitable pricing thereof
(3)	being capable of determining profitable products and loss products
(4)	being capable of elimination altogether or reduction to the minimum of misappropriations, embezzlements, deterioration, obsolescence, and losses from defective, spoiled, scrap and out of date materials and supplies
(5)	being capable of providing proper information on materials and supplies for production resulting in suitable amounts of investment in the inventory
(6)	being capable of providing proper valuation of inventory
(7)	being able to assist the management to decide whether to produce by itself and to pursuit out-sourcing
(8)	being able to generate loss data classified by those due to idle plant and equipment, seasonal factors or other reasons
(9)	being a good management tool to check the reliability and accuracy of the financial accounting system.

 

KanterAsia offers you a comprehensive one-stop solution for handling your full set of accounts to maximize your operational efficiency.

Please refer to our：

» Hong Kong Tax Services
» Company & Project Audit Services

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