Services
Accountancy
Includes Accountancy Services, Different Types of Accountancy, FAQ
What’s Accountancy Services?
- Management accounts (including financial forecasts and financial statements)
- Business plans
- Profitability reviews and business appraisals
- Forensic Accounting
- Advice on accountancy software packages
Different types of Accountancy
Tax accounting specializes in tax-related matters and ensures compliance with tax laws. Services include:
- Preparing and filing tax returns
- Tax planning and advisory
- Handling tax audits and disputes
- Identifying tax-saving opportunities
Forensic accounting involves investigating financial discrepancies and fraud. This includes:
- Conducting financial audits
- Investigating fraud and embezzlement
- Providing litigation support
- Preparing forensic reports for legal proceedings
Financial accounting involves the preparation of financial statements based on generally accepted accounting principles (GAAP). These services include:
- Preparing income statements
- Creating balance sheets
- Generating cash flow statements
- Ensuring compliance with financial reporting standards
Cost accounting focuses on analyzing production costs to aid in budgeting and cost control. This includes:
- Tracking manufacturing costs
- Analyzing cost behavior
- Preparing cost reports
- Implementing cost-saving measures
Managerial accounting focuses on providing financial data to managers for decision-making purposes. This includes:
- Budgeting and forecasting
- Cost analysis
- Performance evaluation
- Strategic planning
Auditing services involve an independent examination of financial records to ensure accuracy and compliance. Types of audits include:
- Internal Audits: Conducted by an organization’s own staff to assess internal controls and procedures.
- External Audits: Performed by independent auditors to verify financial statements.
- Compliance Audits: Ensure adherence to regulatory requirements.
Our Value-added Service
Our qualified team of chartered accountants is here to assist you. We can assess what information your company needs to give HMRC and Companies House with just one phone call.
Our fast delivery Service
At FAZ Accountancy Services, We proactively try to complete your company annual accounts (or your tax returns if self-employed) within 1 to 2 weeks from receiving the relevant information you send us.
Never Miss a Deadline
You won’t need to scramble for last-minute paperwork for HMRC, avoiding fines and stress. We’ll proactively remind you in advance of any required information or payments.
FAQ
Accountancy services are essential for maintaining accurate financial records, ensuring regulatory compliance, and providing insights for strategic decision-making. They help businesses manage cash flow, prepare for tax season, and identify opportunities for cost savings and growth.
To choose the right accounting service, consider your business size, industry, specific financial needs, and budget. Look for a provider with relevant expertise, good reputation, and reliable customer support. It’s also important to ensure that the accounting service can scale with your business growth.
Yes, accounting services can help with financial planning by providing budgeting, forecasting, and strategic planning support. They offer insights into financial performance, help set financial goals, and create plans to achieve those goals.
Accounting services support business growth by providing accurate financial information, identifying cost-saving opportunities, ensuring tax compliance, and offering strategic advice. They help businesses manage resources effectively and plan for sustainable growth.
It is recommended to review financial statements monthly to ensure accuracy and make timely decisions. Regular reviews help identify trends, monitor financial performance, and address any issues promptly.