FinServ Blog

Financial Reporting

Thuriam's financial reporting is responsible for restraining the deeds of the financial position and financial functions of an accounting unit.

  1. Better Management Control — All Business Owners need to have a tool to determine what results have been achieved in the past to make decisions for the future. Good records enable you to substitute informed judgment for guesswork and intuition in making business decisions.

  2. Proof of Credit Worthiness — Time after time, statistics have revealed that almost 80% of business failures resulted from inability to avoid certain conditions that adequate records would have disclosed in time to correct. Records are a basic necessity in securing a loan. Few banks or other lending institutions are willing to negotiate loans without properly prepared financial statements that can only be compiled from the proper records.

  3. Support for Tax Reports — There are many tax returns that are required by federal, state and even municipal governmental agencies: income tax, business tax, franchise tax, property tax and payroll tax. The list seems endless, doesn’t it? The responsibility for keeping records and proving their accuracy falls on the taxpayer, so the importance of keeping records is obvious!

As your partner in your business, we can take care of all of this so you can focus on doing what you went into business for in the first place.  Some of the Accounting and <a href=”http://financialreportings.googlepages.com>Financial">http://financialreportings.googlepages.com>Financial Reporting</a> Services we provide are:

• accounting advice for compliance with Australian, US GAAP and International Accounting Standards

• pre-transaction accounting guidance (acquisitions, restructuring, project structures, financial instruments)

• helping our clients to assess the impact of the transition to IFRS on company financials

• online advice and access to our technical databases through Ernst & Young Online

• a range of publications covering topics such International Financial Reporting Standards and other technical accounting and auditing issues.

• Most external financial reporting including annual financial audit, tax reporting and other miscellaneous reporting requirements as needed.

• Set up of account numbers, and manager/supervisor changes

• Audit Abatement Support, business system re-design, real property documentation and valuation, and project management support, systems support and analysis related to the development, maintenance and operation of accounting and processing systems. .

• Project Accounting Support maintaining like project set-ups, interface completed assets to fixed asset modules, input labor usage, input inventory control point costs, determine expensed vs. capitalized costs, maintain project folders, pull documentation for assets in larger projects, and prepare project completion schedules

• OMB, CFO statements, IG audits, capital lease accounting, actuarial accounting, field data calls, year end accruals, G/L reconciliation, etc.

• Accounts Payables, Accounts Receivables, After The Fact Payroll, Asset Management:, Balance Sheet, Bank Reconciliations, Banking, Bill Payment, Bookkeeping/Write-up, Cash Flow Statement, Cash Receipts Processing, Check Processing, Check Registers, Customized Reports, Detailed General Ledgers, Income Statement, Insurance, Investment Banking, Management Reports, Payment Processing, Payroll Registers, Quarterly Reports, Venture Capital, Year-end Report Generation

For more details visit http://financialreportings.googlepages.com