Our firm not only writes up the book of accounts of its client but also provides advice on accounting system best suited to the clients’ business to ascertain the financial statements are generated accurately and on a timely basis.
The service encompasses:
- Bookkeeping and full set of accounts
- Back-log accounting
- Consolidation of accounts
- Project accounting
- Cash management
These can be performed at either our or your premises and can be arranged weekly or bi-weekly, or indeed at any stage of the accounting process either on full time or part time basis. The service level depends on your circumstances and needs.
We work in a proactive manner to transform those financial numbers into useful information. Most importantly, we provide recommendation for risks or weaknesses identified as well as tap on the potential area for growth.
Our firm takes pride in its ability to create outcomes for clients that are delivered on time and with the client’s best interest in mind.
All companies need to keep proper accounting records and produce financial report for the following purpose:-
- For Statutory requirements
- For business and management purposes
Our services includes maintaining daily accounting records or updating accounts periodically i.e. monthly, quarterly, half yearly, annually or updating backlog accounts. These include the followings:
Upon completion we will produce the following reports for you.
Financial Reporting Act 1997 defined approved accounting standards as:
- Accounting standards which are adopted by the Malaysian Accounting Standards Board (“MASB”)
- In relation to foreign companies listed on a stock exchange in Malaysia, acceptable internationally recognized accounting standards.
MASB approved accounting standards are:
- Private Entity Reporting Standards (“PERS”) for private entities. And
- Malaysian Financial Reporting Standards (“MFRS”) for entities other than private entities
Private entity is a private company incorporated under the Companies Act 1965 that;
- Is not itself required to prepare or lodge any financial statements under any law administered by the Securities Commission or Bank Negara Malaysia; and
- Is not a subsidiary or associate of, or jointly controlled by an entity which is required to prepare or lodge any financial statements under any law administered by the Securities Commission or Bank Negara Malaysia.
A private company is defined in Section 15(1) of Companies Act 1965 as:
A company having a share capital may be incorporated as a private company if its memorandum or articles –
- restricts the right to transfer its shares;
- limits to not more than fifty the number of its members (counting joint holders of shares as one person and not counting any person in the employment of the company or of its subsidiary or any person who while previously in the employment of the company or of its subsidiary was and thereafter has continued to be a member of the company);
- prohibits any invitation to the public to subscribe for any shares in or debentures of the company; and
- prohibits any invitation to the public to deposit money with the company for fixed periods or payable at call, whether bearing or not bearing interest