Accounting
In the modern business environment, precise accounting planning and advice can give your business a distinct competitive edge. Accounting and bookkeeping have been around for just about as long as humans have started our activities in trade and commerce. Basically, there are two categories of accounting: Financial Accounting and Managerial Accounting.
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Financial Accounting is comprised of information that companies make available to the general public, while Managerial Accounting is dealing with information (such as salary costs, the cost of goods produced, profit targets, and material control information) that is not made public.
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Bookkeeping Services
As the name goes, bookkeeping is all about the process of recording, analyzing and interpreting the financial transactions of a business. To be precise, it involves the recording, storing and retrieving of financial transactions for a company. As such, the bookkeeper is responsible for setting up financial statements for the accountant to perform legal and tax management. An experienced bookkeeper is able to produce good financial records regarding how a business works and then providing accurate information that allows the business to know exactly how well it is doing.
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Consolidation Accounts
Consolidation accounting involves the process of grouping the financial records of several subsidiary companies into the combined financial results of the parent company. This method is used especially when a parent company owns the majority of voting shares of a subsidiary company or otherwise has contractual control of the subsidiary. The parent company prepares consolidated financial records by adjusting entries and eliminating intercompany transactions. In short, consolidation accounting is a process of combining assets, equity, liabilities and operating accounts of a parent firm and its subsidiaries into one financial statement.
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Compilation of Unaudited Financial Statements
Financial auditing might not be compulsory for some private limited companies in Malaysia according to the guidelines by Companies Commission of Malaysia (CCM). However, a properly reviewed financial statement is crucial for a business. Generally, a financial statement remained unaudited without an independent verification and review process. In other words, your financial statements are considered as unaudited until they are inspected and approved by a certified external auditors. In 3E Accounting, we provide the service of compiling unaudited financial statements, drafting of unaudited financial reports and etc. through our associated audit firms.
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Freelance Accountant
The rise of gig economy and freelancing has changed the face of the current economy. The trend for many employers to outsource any function of the business that is not directly related to the generation of income is booming. In other words, outsourcing has created the long-term collaboration and relationship between a company’s business and an outside service provider, which in turn, reduce the cost and create a win-win situation for company and service provider. With accounting outsourcing, an employer will get flexibility in adjusting the level of service to meet the needs of his/her business while minimising the cost. When you engage our Bookkeeping Services in Malaysia, we will assign an accountant or consultant to work with you personally on your business accounting needs. Rest assured, you do not have to stretch your budget to get professional service.
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