Accounting advisory services are professional services provided by accountants and other financial professionals to help individuals and businesses understand their financial statements and make better decisions. These services typically include identifying and assessing financial risks, creating financial models and reports, and providing guidance on taxation and other financial matters. SC helps its clients by providing accounting advisory services that are tailor-made to your organization and are based on our global diverse and cross-functional experience and exposure. Accounting advisory services are professional services provided by financial experts to help individuals and businesses gain an understanding of their financial circumstances and make enlightened decisions. These services can involve analyzing financial risks, creating financial reports and models, and offering advice on taxation and other monetary issues. The core of your accounting structure is a well thought off Chart of Accounts (COA) that must be consistent with your operational and reporting requirements to provide meaningful information and facilitate decision making.
ACCOUNTING STRUCTURE (COA, ETC)
The chart of accounts (CoA) is an index of all financial accounts in a company's general ledger. Having the proper CoA is not just about having the optimum/efficient number of accounts, but it goes beyond that to help the business run efficiently and enable decision makers to obtain information with the least effort whenever needed to take the appropriate decisions. SC helps its clients to design the most appropriate COA to enable the business to
I.Properly reflect current and future business needs.
II.Record transactions efficiently.
III. Run reports as frequently and as precisely needed.
IV. Ensure Business and Financial Controls are in place.
V. Minimize chances of errors whether in recording or reporting.
A chart of accounts (COA) is an index of all the financial accounts in the general ledger of a company. In short, it is an organizational tool that provides a digestible breakdown of all the financial transactions that a company conducted during a specific accounting period, broken down into subcategories. In today’s complex business environment, a COA may consist of multiple dimensions/segments in order to accommodate sophisticated reporting requirements in real time
