Management is a process of making a decision which requires information. In this regard, financial information is of a great importance due to the fact that the manager’s decisions will mainly have considerable financial consequences able to affect the whole financial situation of the economic institute both directly and indirectly. Accounting and financial information are considered valuable instruments which present the managers a great possibility to make the most suitable decisions as well as to control and to manage how to allocate their economic resources in the best possible ways.
Why accounting?
The limitation of our economic resources necessitates applying all the best astute and logical ways in order to use them excellently on all levels .Therefore, making any decision in this regard requires information. Information regarding accounting is by far one of the most significant relevant alternatives which is available for any of the beneficiaries.
Accounting with the financial assessing of the economic resources provide us with the same basis and understandable information to evaluate the relative value and the efficiency of them in a way that all the users will have a chance to assess all the economic resources through calculations and eventually find a mutual language to evaluate, analyze and applying the achieved results.
Financial operations are vast and complicated and this complexity and variety is growing every single day which necessitates more and more services to be provided. Services which help the managers, stockholders, banks and tax organizations to fulfill their needs for the best information could be rendered by this institute.
- Financial accounting
The institute financial team of accounting are in charge of registering the financial operation related to all institutes and companies including service provider, commercial and producer ones which are the parties of the contract with it. All the achieved results by this will lead to a final financial report. With an emphasis on the ways of achieving information for other users (stockholders & banks), the accounting team is also able to issue the accounting instruments, applying the financial software, double bookkeeping, editing the legal transaction book trades, preparing financial invoices and reporting (including balance sheet, income sheet and cash flows statement).
- The cost price (industrial accounting)
By studying over the companies and giving a report on the ways of applying techniques and ways of calculation of the cost price of the products and services first, then accounting team will design a system for the cost price and then based on what is designed, the executive team will implement it and will provide some accounting services of the products and cost price.
- Management accounting (Cost accounting)
Both financial operations and the managers of different ranks of the companies which are involved in variety of activities require financial information to take over and assess their actions and predict the up-coming issues. The whole of this process is full of complexities and a board vast of problems which a simple report of accounting would not respond to this need properly. Our accounting team will provide the managers on different organizational levels with the proper financial reports to facilitate their process of decision making emphasizing on the analyzing these reports and results.
- Financial budget planning
It is almost impossible to assess or measure the level of success of efficiency of the policies taken and decisions made by the leaders without having criteria for comparison. Nowadays, planning is known as one of the most valuable managerial instruments of operation guidance following its common usage in everyday organizational conversations. Budgeting defines as an institute plans and goals of sales, providing services, purchase, production, recruitment and etc. if converted into money language. The professional team of the institute provides its services using some techniques and details about budgeting and the way of comparing them with real actions and reports of deviations. Here are some examples of these reports: budget of the operational process, in cash budget and capital budget. In addition to them, reports concerning deviations and analyzing of proper or improper deviations would be a part of these reports too.
- Tax accounting
Annually, a part of the government budget is delivered by income tax which requires enough information about tax law and observation its regulations. This issue is one of the requirements of accounting which has been of interest of the financial service users through making seasonal reports, tax return, value added taxes and finally a declaration performance given by the professional team of tax experts of the institute.
- Accounting system design
How should accounting constitutions and structures be implemented in different institutes? How should forms and instruments of registration and booking financial operations be prepared? How are legal considerations going to affect the way of setting up the forms and the process of information flow?
Based on their valuable experiments and accounting experts, the duty of designing financial, official and operational systems is done by the institute design team.