Accounting and Consolidation in Malaysia
Why do you outsource?
1. It takes time, effort and experience to maintain a well-managed accounting team/system
Outsourcing accounting team allows you to focus on the key revenue and value generating activities for your company, while ensuring the financials are managed by professionals. Your company will have significantly lesser housekeeping task and training requirements to fulfil.
2. Cost savings of at least 20-30%
Hiring an outsourced accountant is often cheaper and cost effective than in-house finance staff. This is mainly due to there are no overhead costs such as vacation, insurance, retirement and sick days to be considered. This will normally result in at least 20-30% cost savings. This cost savings does not result in loss in talent acquisition, but instead you have a team of ready trained professionals for this.
3. Reduce risk of fraud
Most instances of fraud happen due to lack of oversight by the management team due to concentrated and linear control of the financial approval role with the financial recording role. Having an outsource accounting team allows an additional layer of review for your financial transactions, and any abnormalities will be brought attention to the management team immediately, to reduce the risk of fraud.
4. Independent role with business experience
Given our role as accountant for multiple type of companies, we can provide improvement and business restructuring advice, on top of our accounting services only. The company team get additional insights to the business and internal control.
Types of services
- Yearly Accounting and Monthly Bookkeeping
- Preparation of financial and management account
- Documentation of financial transactions
- Tax compliance documentation and preparations
- Liaising with auditor, secretary and tax agents on your behalf
- Consolidated Unaudited Financial Statements and reports
Bookkeeping Services
Bookkeeping are the essential records of a company, that combines all the transactions into understandable and quantifiable information for financial analysis and reporting purposes. You will need someone with keen interest to understand your company and to drive and oversee this process. Our experience in both audit and commercial heighten our ability to oversee this services. We will assist your company in understanding, analysing and recording of the individual financial transactions of your daily operations. We are responsible for setting up proper financial records to provide accurate and timely snapshot of the business.
Consolidation of Accounts
We will help your company inteprent and group the financials of multiple companies and present the combined financial results of the parent company using the applicable financial reporting standard. It allows you to leverage on our expertise and knowledge of intercompany elimination of balances and transactions and produce the final combined assets, equity, liabilities and operating accounts of a parent firm and its subsidiaries. We help you cope with this tedious process and simplify in simple this process for your desired outcome.
Freelance Accountants
We are certified accountant that has audit and commercial experience that can station at your office or our office (depending on a case by case basis), or even in the forefront to help you deal with business relationships and outside service providers. You get to minimise your cost while getting our full fledge commitment of our accounting and business advices to your company needs. We believe every case is special and we will work towards working a reasonable and suitable budget for these professional services. Our acting accountant can attend meetings also at your request to provide business insights to the current internal control and business financials.