Alkhuzam & Co.
Synopsis of Accounting Services
  • Mar 16, 2023
  • Acacia Pinto by Acacia Pinto

“Accounting is a language of business”. This phrase remarked by Warren Buffet simply highlights that Accounting is used as an essential tool for communication of financial data about a company or an organization. Numbers across the globe function in the same way regardless of where you’re situated at. It is important as it keeps systematic record of an organization’s financial information.

Accounting Services Firms

In order to manage finances, maintain bookkeeping and other reporting tasks, businesses of all sizes need accounting services companies. There's a good probability that you require accounting services if you are running a business. It's a good idea to be aware of the additional services that accounting firms might offer even if you only think you need bookkeeping and tax preparation. There may be some factors related to an accounting firm that you haven't considered but that will ultimately benefit your company. Alkhuzam & Co - Morison Global is an accounting firm with a team of handpicked professionals that offer clients with financial management services. These services include bookkeeping, tax planning, advisory services, auditing & payroll processing and much more.

Overview of Financial and Accounting Services

Bookkeeping is one of the key services of an accounting firm. It involves accurately recording and reconciling all transactions that took place in an organization. The financial activity of a business is regularly summarized into financial reports that showcase the performance and position of the business. The bookkeeper’s responsibility is to give information that can be understood by people who are empowered to make choices at the organization.

Advisory services, in this we closely work with the client to help grow their business and overcome any financial problems. We focus on the company goals, understand their debts, income and expenses, and create an optimum plan to reach the target most efficiently.

Audit services are used to verify the accuracy of financial statements and that all reports are made accurately and truthfully. This division offers monitoring and advisory services to assist the business in achieving its objectives and adding value for the business in accordance with international standards. A corporation needs auditing and advisory services to keep up its reputation and make sure that it doesn't violate any laws at any point in the course of doing business. Advisory services provide advice on how to enhance the caliber of the client's goods or services, which may include enhancing operational workflow, financial accounting, marketing strategies, or other facets of a business.

Strategic Planning serves as a road map, outlining the organization, its products, the marketplace, management, financial situation, and business hazards. It helps in:
 

  • Identifying and describing the target audience.
  • Develop financial plans with regard to direct/indirect costs, revenue, profits and break even analysis for the upcoming years. This can aid to significant growth of the organization and prevent downfalls.

Tax planning is the process of preparing tax returns that complies with the federal and state laws. Moreover, services like Payroll are provided, which manages the salaries and wages that must be given to the employees. Depending on the types of personnel, this process can often become complicated.

What makes us stand out?

Every business is a long-term investment that requires careful, strategic planning to successfully accomplish both short- and long-term objectives. What makes us stand out amongst top accounting firms in Kuwait is that we assist you in creating a secure financial future by employing incisive approaches and potent solutions.

In addition, we have years of training and experience across a variety of industries. At Alkhuzam & Co., we make sure that all our clients receive satisfying services from our team of professional accountants and support the development of the business. We are here to support your business at every stage of the financial growth process, whether you are contemplating to buy a new firm, need assurance developing a results-driven business strategy, or simply want to be sure that no money is being lost needlessly.

 

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