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Accounting and Financial Reporting Services Business Process Outsourcing

Let us complement you in growing a successful and sustainable business

Having accurate and reliable information about your business financial health often reduce your response time to any business challenges that require timely decision making. Yet, many businesses struggle when it comes to gauging their own financial position and sustainability with accuracy. It is natural that attention is directed to developing and growing the core businesses of an organisation instead of investing a large sum in constructing and maintaining the financial reporting and compliance system in house.

PKF is well-positioned to bridge the gaps for you. It doesn't matter whether your business is a local start-up or an expansion from overseas, our well-trained accounting and compliance specialists are able to tailor the services to your needs, allowing you to focus on the core businesses and at the same time, have an efficient and effective accounting function that provides you with timely, accurate and reliable financial data and report.

Our qualified professionals are capable of providing you with practical solutions to different challenges, from the mundane day to day accounting functions to the technically-driven areas such as the interpretation and application of accounting standards relevant to your businesses.

Being part of an established international network widely recognised for its quality of service also means that PKF has access to a wealth of technical knowledge aggregated from different network firms around the world over a long period of time.

The extensive range of accounting and financial reporting services we could provide include:

  • Setting-up advisory and assistance
    • Setting up accounting systems to cater for the intended business transaction flows
    • Setting up chart of accounts
    • Drafting accounting and operational manuals
    • Customising management report templates according to users' specification
    • Identifying or reviewing of interfaces between various operating system, such as the point of sales system with the accounting software
    • Assisting in identifying business requirements for ERP system implementation
    • Other related services
  • Bookkeeping and maintenance of accounting records
    • Sorting, coding and classification of underlying records
    • Recording of transaction into the accounting software
    • Maintaining general ledger, sales and purchase ledgers
    • Maintaining fixed assets register
    • Review and/or reconciliation
    • Maintenance of accounting records
    • GST accounting and reporting
  • Outsourcing
    • Accounts payable processing
    • Disbursement process management
    • Raising of sales invoices
    • Raising of credit and debit note
    • Sending statement of accounts and reminders to receivables
    • Payroll processing
  • Financial reporting
    • Periodic/month end/quarter end/year end closing of accounting books
    • Preparation of monthly/quarterly/yearly management reports,
    • Preparation of interoffice reporting package
    • Preparation of statutory financial statements
    • Reconciliation between local GAAPs and IFRS
    • Conversion of financial statements into XBRL format
  • Financial Management / Virtual CFO services
    • Review accounting books prepared by in house junior accountants
    • Financial management
    • Budget & forecast preparation
    • Cash flow forecast
    • Cash flow analysis
    • Working capital control
    • Cost analysis
    • Profit improvement analysis and monitoring
    • Loss control analysis and monitoring
    • Financial data analysis and interpretation
    • Monthly/periodical financial and/or operational performance review
    • Variance analysis
    • Review or preparation of business plan
    • Number crunching for pre IPO preparation or fund raising
    • Supporting fund raising exercise
    • Financial feasibility study/analysis/review
  • Interim management / Temporary Relief
    • Temporary staff secondment to elevate sudden manpower crunch
    • Maternity / sabbatical leave cover
  • Consolidation / Combination
    • Preparation of consolidation workbook for a group of companies
    • Consolidation of complex group with multiple subsidiaries and minority and dealing with multiple currencies
    • Merger accounting
    • Amalgamation accounting
  • Accounting advisory
    • Deferred tax computation / review
    • Accounting for purchase price allocation
    • Accounting for ESOS
    • Accounting for complex group structure
    • Accounting for joint venture / joint operation
    • Accounting for companies amalgamation
    • Accounting for waiver of debt
    • Accounting for financial instrument
    • Accounting for assets under disposal group
    • Application of standard costing
    • Application of project accounting
    • Other complex accounting issues
  • Accounting SOS
    • Clear backlogs
    • Reconstruction of accounts from incomplete records
    • Suspends account clearance
    • Rectification of prior year errors