Accounting is the process of identifying, measuring, recording and communicating relevant and comparable information about an organization's financial activities. Its purpose is to permit better judgment and informed decision by users of the information. Accounting involves preparing financial statements and other reports based on data accumulated by the bookkeeping process. Some important information financial reporting conveys to its users include:
Profitability of operations
Financial position – what are assets, liabilities and capital of the organization?
Liquidity and solvency– liquidity is the ability of an organization to meet short-term financial obligations, solvency is the ability to operate in the long-term.
Cash flows – the inflow and outflow of cash
Other relevant information that could potentially affect the decisions of users
Accurate financial reporting is crucial to the success of your business. It serves many functions:
- Helps owners and managers assess their financial performance, the overall health of their business and to make important business decisions
- Provides the necessary data to complete the corporate tax return
- Useful in securing loans and credit from financial institutions and suppliers
- Helps prospective investors assess the profitability of investing in a company
So Efficient Accounting Services is able to provide your organization with accurate and up-to-date financial data. In addition to regular financial reporting, we are able to provide customized reports, implement efficient accounting procedures and assist with financial budgeting and forecasting. Contact us for a free consultation and we will work with you to find the right accounting solution for your organization.
The following is a summary of the accounting services we can provide:
- Financial reporting
- Financial statements
- Balance Sheet
- Income Statement
- Statement of Cash Flow
- Trial Balance
- Custom reports
- Financial statements
- Financial analysis
- Accounting software implementation
- Staff training
Financial Management Services
In addition to our financial reporting services, So Efficient Accounting Services also offers financial management services. We can help your organization by identifying, analyzing and implementing system improvements to increase the efficiencies of your business. The benefits of these system optimizations usually extend beyond the finance department and can positively affect the overall functioning of your organization. The positive outcomes can include cost savings, improve utilization of resources, increase productivity, error reduction and improve the quality of financial data available. If you are a new business and currently don't have a financial process in place, we can help you establish a system that will help get your company off to a good start.
- Establish or improve process and system improvements
- Implement or improve effective internal controls
- Analyze cash flow
- Conduct fiscal review & assessment
- Manage financial software
Serving Squamish, Chilliwack, and Hope
Areas of Service: Chilliwack Bookkeeper, Chilliwack Accounting, Chilliwack Bookkeeping, Squamish Bookkeeper, Squamish Accounting, Squamish Bookkeeping, Hope Bookkeeper, Hope Accounting, Hope Bookkeeping