BOOK OF ACCOUNTS
There are two different ways to memorize the effects of debits and credits on accounts in the double entry system of bookkeeping. They are the Traditional Approach and the Accounting Equation Approach. Irrespective of the approach used, the effect on the books of accounts remains the same, with two aspects (debit and credit) in each of the transactions.
Real accounts are accounts relating to assets and liabilities including the capital account of the owners. Personal accounts are accounts relating to persons or organizations with whom the business has transactions and will mainly consist of accounts of debtors and creditors. Nominal accounts are revenue, expenses, gains, and losses.
We perform Preparation, Compilation and Review financial statements for many types of organizations including partnerships, sole proprietorships and a variety of commercial businesses. Which level of service you need will depend on your particular requirements or requests from bankers or investors.
The highest level of service a Certified Public Accountant offers is Auditing. Many people around the World, including banks, vendors, the SEC and creditors, etc. depend on the independent CPA to perform an honest, ethical and objective audit of an organization issuing what is known as the Auditor's Report.
An "Audit" is not just an analysis of the balance sheet and income statement balances... but involves a complete analysis of an organization's internal controls and record keeping systems.
We perform audits of many types of organizations including non-profits, governmental, condominium associations and a variety of commercial businesses.
Our Consultants provide following services & advise to clients on:
- Book Keeping
- Monthly / quarterly financial statements
- Internal Audits
- Internal accounting reports
- Monthly and quarterly tax reports
Please don’t hesitate to contact us with any commercial questions and we will refer you to one of our talented Consultant. You can read the Associates profiles of our team below:
PRACTICE ATTORNEYS
ZAHID MASOOD CHATHA
Zahid Masood Chatha is a Senior Consultant started his carrier in 1991and is....
ALI RAZA
Ali Raza holder of Master Degree in Business Administration, is a Consultant have standing in the field particularly Income Tax, Sales Tax...
Zafran Yousaf
Mr. Zafran Yousaf Mughal (Advocate High Court) is working with the firm since 2004. He has significant experience in matters Income Tax Laws ...