Comprehensive Accounting Management Services for Business Growth
Efficient, Accurate, and Scalable Accounting Solutions to Keep Your Business Financially Strong
Services You Get from Our Accounting Management Solutions:
● Financial Planning & Analysis – Gain insights with strategic financial forecasting and budgeting.
● General Ledger Maintenance – Keep a detailed and organized record of all financial transactions.
● Accounts Payable & Receivable Management – Streamline payments and invoicing for better cash flow.
● Bank & Credit Card Reconciliation – Ensure financial accuracy by matching records with bank statements.
● Tax Preparation & Compliance – Stay compliant with local and international tax laws.
● Payroll & Salary Processing – Manage employee wages, deductions, and tax calculations.
● Profit & Loss (P&L) Statements – Generate reports to monitor business performance.
● Balance Sheet Preparation – Keep track of assets, liabilities, and equity.
● Audit Preparation & Support – Ensure compliance with financial regulations and standards.
● Customized Accounting Solutions – Tailored services to meet your business needs.
Accounting Manual Services All over Bangladesh | Corporate.com
An Accounting Manual is an essential internal guide for recording accounting transactions and maintaining organizational financial practices. It serves as a set of rules and instructions for accounting staff and departments, outlining key processes such as accounting methods, bookkeeping procedures, the timing for recording transactions, the handling of supporting documents, maintaining a chart of accounts, and methods for resolving unusual items. It also includes reporting procedures and the authorization of accounting records.
Developed either internally by senior personnel or with the assistance of external experts, an accounting manual ensures that organizations comply with accounting standards while maintaining accurate and transparent financial records. The structure and content of the manual can vary depending on the size and complexity of the business.
Benefits of an Accounting Manual
An accounting manual helps organizations adhere to acceptable accounting standards and ensures that financial transactions are recorded and reported to the relevant authorities in the most effective and efficient way. By standardizing accounting practices, it provides clarity and consistency for internal and external stakeholders, ensuring that the organization meets both local and international regulatory requirements.
For multinational companies, an accounting manual is crucial to ensure coordination between the parent company and its subsidiaries, aligning accounting practices across different jurisdictions. For example, an American company following GAAP standards may have a subsidiary in Bangladesh, which follows IAS and IFRS standards. In such cases, the accounting manual provides guidance on how to coordinate and align these different accounting practices for accurate group reporting and performance analysis.
Creating an Accounting Manual for Businesses | Corporate.com
Certain accounting standards allow companies to choose between different methods for maintaining accounting records. These include methods for inventory recording (e.g., FIFO, LIFO, or Average Cost) and for the depreciation of assets (e.g., straight-line, reducing balance, or double-declining methods). An accounting manual ensures that the organization consistently applies a specific method, ensuring comparability and continuity in financial reporting, especially for group accounts.
In cases where changes in accounting methods are required—whether for compliance purposes or specific circumstances—the accounting manual provides guidance on how to make and document these changes in a structured and coordinated manner.
Additionally, an accounting manual specifies when and how to record transactions, whether it’s when informal information is received, supporting documents are available, or after formal authorization.
Other Key Features of an Accounting Manual:
Support Documents and Authorization: Guidelines on maintaining and managing supporting documents for transactions, along with processes for document approval and authorization based on the transaction’s size and nature.
Handling Unusual Transactions: Procedures for addressing irregular transactions, ensuring that they are properly investigated and recorded.
Communication with External Consultants: Guidelines for liaising with external consultants or advisors when required.
Statutory Reporting Compliance: Guidelines for ensuring that statutory reports, such as quarterly unaudited reports, annual audits, FDI returns, and other regulatory filings, are submitted on time. The manual will specify deadlines and the format required for each report, helping staff stay compliant with local and international regulations.
Accounting Manual Services Provided by Corporate.com
Corporate.com is a highly reputable and experienced organization specializing in accounting and financial services. We can design and create a customized accounting manual tailored to the needs of both local and multinational companies, in line with local and international accounting standards. This ensures compliance with regulatory bodies, both domestic and international.
We also offer guidance and training for accounting staff, helping them understand how to follow and implement the manual, ensuring that the organization maintains accurate, compliant, and efficient financial records.