Accounting Services

  • Setindiabiz Team
  • July 18, 2023
Accounting Services
“Considering the fact that the financial health of your business demands specialized and reliable accountants, we take great care to provide you with quality accounting services that would assist you in making wise and well-informed business decisions.“
Accounting, a highly instrumental process within organizations, strives to provide the company’s management with precise facts and figures required to keep the business financially healthy. It’s significance in an organization can be determined from the fact that roots of all the important decisions such as budgets for marketing activities, profit reinvestment, research and development, and company’s growth lies in the right accounting process. As a part, accounting also involves compliance with government regulations related to income tax reporting, there is a great need to rely upon highly qualified professionals accountants who stay streamlined with all the government regulations

Benefits of Accounting

  1. Resolves Income Tax Issues
  2. Ensures Timely Payment of Bills
  3. Facilitates Secure Book -keeping
  4. Ensures Proper Planning and Decision Making
  5. Ensures Well-Maintained and Complete Records
  6. Helps You Stay Streamlined With Government Regulations
  7. Helps You In Making Comparisons With Previous Year’s Financial Records

Importance of Accounting

Accurate enforcement of the auditing principles and income tax rules and regulations, ensures the accountability of all business activities including income, transactions, transfers, and payment of fair share of the tax burden.
Information which can’t be made public such as salary costs, cost of goods produced and profit targets comes under managerial accounting while financial accounting consists of information that companies make available to the general public such as stockholders, creditors, customers, suppliers, and regulatory commissions.
Systematic accounting process with proper internal controls helps in reducing frauds in an organization.
The fundamentals of assets, liabilities, and income and the need to reconcile these areas is still the basis for all accounting functions today as the knowledge and principles upon which the first accounting practices were established, have changed a little over the years.

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