Accounting Services
Accounting and Auditing
The main concern for investors and traders is whether the business they operate is profitable and what the amount of profit is. The operating profit is the basic factor in prediction of the following year’s business condition and planning of business strategy. It is essential especially for decision of cutting expenses when the business seems to suffer loss. Preparatory measures have to be considered seriously under such situation.
In order to save expenses, most business operators make records of business transactions in their own ways. They do not employ accountants as they simply perceive that profits are calculated from formula, income less expenses. Accountants, in their opinions, are not as productive as other officers in the companies. Sometimes they even pass the accounting duties to officers who only possess elementary concepts of business. Applying the fundamental accounting theories, they help to perform bookkeeping. However, without comprehensive knowledge, they lack experience in preparing financial statements. Moreover, they cannot keep transaction bills, vouchers or statements in order for future cross reference on request. As a consequence, it takes a lot of time for auditors to trace the information, rearrange the data, and make plenty of adjustments to the drafted accounts in preparation of audited accounts. Owing to poor accounting systems, not only doing these excessive tasks lead to extra audit costs but also conclusion of qualified audit reports. A qualified audit report will damage the genuine of the company.
Hence, investors and traders should not overlook the importance of accounting to company business. Accounting serves as the backbone of business and makes sure that the transaction data is translated into useful information for making decisions on future development.
What can PTAC do for you?
As a matter of fact, employing full time accountants is not really necessary in certain kinds of business. Companies may consider to delegate the accounting duties to professional firms like Ptac under subcontracting mode of services. Handling accounting files from various business fields and industries, P-tac has specialized experience in :-
- Providing monthly, quarterly and yearly accounting services in time
- Adopting sophisticated accounting software in recording the transactions so as to simplify procedures and reduce processing time
- Making sure that accounts are made according to the standards issued by HKICPA
- Rearranging and reclassifying the transaction figures with accuracy and proper judgement
- Preparation of financial statements reliable for finalized auditing
- Analysis of financial statements and giving useful advice or identifying any reasons leading to poor business
- By referral, passing financial statements to auditors for examination and verification every year. Ths auditors are qualified CPAs having practicing standard in giving a true and fair view to the audited report.