Financial Traditional and Alternative Services

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Book keeping

  • Recording Transactions – Logging daily financial transactions, including sales, purchases, and expenses, to maintain accurate financial records ( US-GAAP, HGB, IFRS)
  • Accounts Payable Management – Tracking and processing supplier invoices to ensure timely payments and maintain good vendor relationships.
  • Accounts Receivable Management – Monitoring customer invoices and payments to improve cash flow and reduce overdue accounts.
  • Financial Reporting – Preparing balance sheets, income statements, and cash flow reports for business insights and decision-making.
  • Expense Tracking – Categorizing and monitoring business expenses.

Fixed Assets Accounting & Management

  • Asset Recording & Classification – Documenting and categorizing all fixed assets (e.g., machinery, buildings) for accurate financial reporting i.e,.Fixed Asset Register(FAR)
  • Asset Acquisition & Capitalization – Tracking asset purchases, determining capitalization thresholds, and recording them in financial statements.
  • Depreciation Calculation – Applying appropriate depreciation methods (straight-line, declining balance, etc.) to allocate asset costs over their useful life.
  • Asset Tagging & Tracking – Assigning unique identification numbers to assets and maintaining records for easy tracking and verification.
  • Asset Transfers & Disposals – Recording movements of assets between departments or locations and ensuring proper documentation for asset sales, disposals, or write-offs.
  • Lease Accounting & Compliance – Managing leased assets in line with accounting standards (e.g., IFRS 16, ASC 842) for proper financial treatment.

Inventory management

  • Inventory Valuation & COGS Calculation – Applying valuation methods (FIFO, LIFO, weighted average) to determine stock value and calculate the Cost of Goods Sold (COGS) for accurate financial reporting.
  • Stock Reconciliation & Adjustments – Verifying inventory records against financial statements and recording write-offs for obsolete, damaged, or lost stock.
  • Financial Impact of Inventory Levels – Analyzing carrying costs, turnover ratios, and working capital impact to optimize financial efficiency.
  • Budgeting & Forecasting – Estimating inventory costs for financial planning, cash flow management, and profitability analysis.
  • Audit & Compliance Reporting – Preparing financial reports for internal audits, tax filings, and regulatory compliance.

Credit Control Management

  • Credit Risk Assessment – Evaluating customer creditworthiness using financial analysis and credit scores to minimize bad debts.
  • Accounts Receivable Monitoring – Tracking outstanding invoices, aging reports, and overdue payments to maintain healthy cash flow.
  • Bad Debt Provisioning & Write-offs – Setting aside reserves for doubtful debts and recording irrecoverable amounts in financial statements.
  • Cash Flow & Credit Policy Management – Aligning credit terms with business cash flow needs and optimizing policies to balance sales growth and risk.

Preparation of financial reporting and analysis

  • Financial Statement Preparation – Compiling balance sheets, income statements, and cash flow statements for accurate financial reporting.
  • Ratio Analysis – Evaluating key financial ratios (e.g., liquidity, profitability, solvency) to assess business health and performance.
  • Variance Analysis – Comparing actual financial performance against budgets and forecasts to identify discrepancies and areas for improvement.
  • Management Reporting & Decision Support – Providing financial insights and data-driven recommendations for strategic decision-making.

Accounts reconciliation

  • Bank Reconciliation – Matching company records with bank statements to identify discrepancies and ensure accurate cash flow tracking.
  • Ledger & Subledger Reconciliation – Verifying general ledger balances against subledgers (e.g., accounts receivable, accounts payable) for consistency.
  • Intercompany & Vendor Reconciliation – Ensuring accuracy in transactions between related entities and reconciling supplier statements with company records.
  • Balance Sheet Reconciliation – Reviewing key accounts (e.g., assets, liabilities, equity) to confirm accuracy before financial reporting.

Consolidation of accounts

  • Data Collection & Integration – Gathering financial data from subsidiaries and merging it into a single set of consolidated financial statements.
  • Elimination of Intercompany Transactions – Removing transactions between group companies (e.g., sales, loans) to avoid double counting in consolidated results.
  • Currency Translation – Converting foreign subsidiary financials into the reporting currency using appropriate exchange rates for consistency.
  • Consolidated Financial Reporting – Preparing consolidated balance sheets, income statements, and cash flow statements in compliance with accounting standards (e.g., IFRS, GAAP).

Cash flow management

  • Cash Flow Forecasting – Estimating future cash inflows and outflows to ensure the business can meet its financial obligations.
  • Monitoring Cash Position – Regularly tracking actual cash flows against forecasts to identify potential shortfalls or surpluses.
  • Managing Working Capital – Optimizing inventory, receivables, and payables to improve liquidity and ensure sufficient cash for daily operations.
  • Cash Flow Reporting – Preparing detailed cash flow statements for internal management and external stakeholders, highlighting cash generation and usage.

Inter company transactional management

  • Setting Up Intercompany Systems – Implementing and configuring intercompany transaction management systems to streamline processes and improve accuracy.
  • Transaction Recording & Documentation – Accurately recording and documenting transactions between related entities, including sales, transfers, and loans.
  • Intercompany Reconciliation – Reconciling intercompany accounts to ensure consistency and accuracy in financial reporting across different entities.
  • Netting of Intercompany Balances – Offsetting mutual intercompany receivables and payables to reduce outstanding balances and improve cash flow management.

Master data management & Data warehouse

  • Master Data Creation & Maintenance – Establishing and maintaining accurate financial master data (e.g., chart of accounts, vendor details, customer profiles) to ensure consistency across systems.
  • Data Integration & Consolidation – Integrating financial data from multiple sources into a central data warehouse, enabling comprehensive reporting and analysis.
  • Data Quality & Compliance – Ensuring data accuracy, integrity, and compliance with financial regulations, and implementing regular data validation processes to avoid discrepancies.
  • Data Cleanup & Standardization – Identifying and correcting inconsistencies, duplicates, and errors in financial data to maintain high-quality, reliable datasets.

Compliance tasks as per local statutory requirements

  • Annual Statistical Reporting – Submitting required financial and operational data to local authorities for compliance with statistical reporting obligations, such as the "Statistisches Bundesamt" (Federal Statistical Office).
  • VAT Reporting – Filing of Advance Sales tax return (VAT) to comply with local tax laws and regulations.

Budgeting and Forecasting activities

  • Revenue & Expense Forecasting – Estimating future revenues and expenses based on historical data, market trends, and business strategies to create accurate financial projections.
  • Budget Creation & Allocation – Developing detailed budgets by department or project, ensuring resources are allocated efficiently to meet business objectives.
  • Variance Analysis – Comparing actual performance against budgeted figures, identifying discrepancies, and analyzing the causes of any deviations to inform future planning.
  • Scenario Planning & Sensitivity Analysis – Conducting "what-if" scenarios and sensitivity analysis to evaluate the impact of various business conditions and uncertainties on financial outcomes.

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