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Auditing & Accounts | Forensic Accounting

    Accounts are often seen as the necessary evil. We focus on finding value for our clients in the preparation of accounts. Accounts are the fundamental business tool that helps the owners and managers build on success and generate wealth.

    The Purpose of Accounts

    The most important use for accounting information is in managing and controlling the business. In designing accounting systems we see the owner manager and shareholders to be of primary importance. The use by third parties such as financial institutions, The Revenue Commissioners and suppliers are of secondary importance, but are often given priorities thatcan take away from the real value of accounting as management information systems. We aim to get a balance that focuses on the owners' needs and being very concious of the underlying costs. The underlying records should be capable of satisying all the accounting control and compliance requirements for a business. We provide a FREE Tax Health Check for Accounts Clients.

    Statutory Basis For Accounts Preparation

    Company law lays down the requirements for preparation of company accounts and keeping proper records. In general companies should have their accounts audited every year. There are exceptions for small companies. All companies must file an annual return with the Registrar of Companies. Failure to do so gives rise to sever penalties.

    The Revenue Commissioners require detailed records to be kept for tax purposes. They will be subject to audit from time to time to make sure that the correct tax is operated and paid in respect of business profits, payroll taxes, VAT, sub-contractors tax, etc.

    Accountancy & Financial Services

    Our comprehensive accountancy services to include:

    • Book-keeping
    • Management Accounts
    • Cash-flow & Profitability Forecasts
    • Annual Accounts
    • VAT Returns
    • Payroll Services

    Book-keeping Services

    We provide full book-keeping services producing primary books of account to satisfy the objectives of management control and financial planning. These records also satisfy the requirements of the Revenue Commissioners. We can also provide support services for a business to prepare its records in-house. The key to maintaining proper financial records is the regular processing of data and ensuring that complete records are always maintained.

    Primary Books

    Sales Book - This records all sales in the business. Each transaction is entered in date order recording a description of the transaction, the value of the goods or services and value added tax (VAT) if appropriate.

    Purchases Book - It records by date each purchase for the business giving a description stating its value and the amount of VAT if applicable.

    The sales and purchases books are normally analysed in terms of value between gross amount, VAT and the net transaction value. The gross values are important for banking and cash collections. The net of VAT figures are what we record for the purposes of calculating income and expenditure and it is the net figures that form the basis for preparing annual accounts.

    Cash Book - In this we record cash collections and payments. It should be reconciled with the bank account on a regular basis. Discrepancies should be investigated thoroughly. It is common to analyse expenses under their various headings (salaries, rent, rates, etc).

    At the end of the year a trial balance will be extracted from which to prepare the annual accounts. Apart from formating and presentation the accountant will consider matters that may not have been recorded at the book-keeping stage and will adjust for these items using journals (accounting revisions and adjustments).

    While it is common to record all accounting entries in manual books of account; in recent years computer packages have become more common. Packages can be tailored to the specific needs of the client. There are many different types available. It is important to take professional advice when selecting the one that best suits your needs, now and in the future.

    Management Information Systems

    The primary ofjective of good management information systems is the availability of relevant performance reports prepared on a timely basis. It is the organisation and presentation of this data in an orderly summarised manner that determines its quality and usefulness. If the person for whom the data is compiled is prevented from using it due to delays and information overload the system is ineffective. We focus on designing the weekly, monthly and annual reports that add value to the financial process.

    Cashflow & Profit Forecasting

    Cash is king but profit is life. We design and integrate management systems to insure financial strength.

    Accounts Preparation

    Annual accounts are required for all business activities. From time to time interim accounts may be needed in relation to bank loans and grant applications. We prepare accounts from clients’ own accounting records and we can also process source data to create the records from which accounts can be extracted.

    Audited Accounts

    We are authorised by the Institute of Chartered Accounts in Ireland to audit accounts in Ireland and the United Kingdom. We provide a FREE Corporate Governace Review for audit clients.

    Business Taxes

    As independent tax advisers we can prepare and assist with all business taxes and returns offsite or in the clients own premises. Our support services include:

    • Confidential executive payroll services and personal tax support
    • VAT calculations and returns
    • Relevant contracts tax compliance services

    Payroll Records

    An employer must be registered with the Revenue Commissioners to operate PAYE/PRSI for any staff. It is necessary to notify the Revenue when employees commence and terminate employment. The Revenue will instruct the employer to calculate and deduct tax and PRSI under the PAYE system. Detailed records must be maintained and returns need to be filed regularly. Employees must be given payslips stting out their remuneration and any deductions. This can be a daunting tax and onerous responsibility for any business. We can provide complete payroll services for any business on a confidential basis.

About Us

We provide a comprehensive range of tax and financial services as well as the established detailed accountancy services. Our financial planning services takes care of all your business and personal needs.

Contact Us

We are available during standard business hours to answer your queries via phone, email or by using our web contact form. Please visit this page to get in touch, we promise to respond within 48 hours.