Accounting & Bookkeeping Services

The two global accounting standard promulgators are the United States Financial Accounting Standards Board, FASB, and the International Accounting Standards Board (IASB), to which non-US entities have converged their accounting and financial reporting over the past two decades.

On the financial reporting pyramid, each country’s individual Generally Acceptable Accounting Practices (GAAP) is the baseline.   

While publicly traded (large) companies have adopted IASB’s International Accounting Standards (IFRS) for their financial reporting, small and medium-sized businesses are subjected to individual countries’ local GAAP.

If you operate an e-commerce entrepreneur, a startup, or an international SME operating in the European Union, you will be subjected to the local GAAP of each country in which you operate. 

Having the right accounting/bookkeeping service is critical to your business’s success. Don’t be fooled by those who offer to have your accounting done in Asia on the cheap. 

The French “Plan Computable,” for example, is very specific in its treatment of transactions. An accountant in India or Malaysia may indeed account for your French entity but it will still have to be validated and will involve a certain amount of reclass by a chartered accountant in France. In many cases, even the average in-house accountants and bookkeepers may lack the skills required in the local markets.

In the end, as these organizations are charging you per transaction processed, they will impute that redundancy in your cost.

Why go through that trouble? Take the difficulty out of operation, reduce your costs, mitigate your risks, and ensure compliance by using local in-country chartered accountants and bookkeepers who are subject matter expertise in the local markets, are licensed locally, and operate within the strict guidance of the state.

By allowing us to handle your accounting and bookkeeping needs, our local chartered accounting partners ensure accuracy in the timeliness, occurrence, relevance, valuations, rights, and obligations of each transaction recorded and ensure your timely statutory declarations and tax filings. 

Your monthly financial statements will include reconciled bank statements, transaction summaries, cash flow statements, and full P&Ls and balance sheets.

You save time and money and eliminate risks and are able to focus on the core activity of running and developing your business.