CMG Group - Services

By: Cmg Group  09-12-2011
Keywords: Tax Returns, corporate tax, Personal Tax

We currently are utilizing 2 (two) CA’s to finalize corporate tax returns as well as personal tax returns, however we are aware that many businesses currently utilize their own CA or CA firm, we are more than pleased to work with them as well. Furthermore CA firms refer many of our clients to us and should you require we would be more than happy to recommend one of these firms if you need or want independent assurance.

The term Bookkeeper refers to a person who systematically records the financial transactions and maintains the correct & up-to-date financial records of any organization.

The value of a Bookkeeper is measured in how efficient they make others (ie: the Accountant, the Chief Financial Officer etc). The Bookkeeper is at the centre of a company's financial production wheel. This is self evident with the production of such industry standard forms of measurements like Annual Reports or year end closings.

The Bookkeeper enters the data which underscores the financial reporting on every company and for this reason, it has to be done accurately. A Bookkeeper must understand the mechanics of financial statements, since every entry a Bookkeeper makes eventually hits the balance sheet and P&L statement.

Unfortunately, many Bookkeepers are trained in theory and on software without direct knowledge of the work flow of managing a company's books. Unless they possess this insight, they would erroneously think every time they pay a bill the task is complete. But this is not the case. Its only the beginning, as the information they've just entered provides the controller and subsequently the CFO with information on the company's financial performance. Each transaction in itself may not be significant, however, collectively they are. If the scale is not level, the measurement will be off. The two have a direct correlation.

If a Bookkeeper has done their job well, all reconciliations will balance. This leads to an accurate valuation of the business and ultimately, allows the CFO to do their job.

Keywords: Balance Sheet, Bookkeeper, corporate tax, Corporate Tax Returns, financial reporting, Personal Tax, Tax Returns