Corporate Accounts and Tax Consultancy

Corporate Accounts and Tax Consultancy

• Every company must perform some accounting. This is so as to identify its financial state. Also known as bookkeeping, accounts involves the collection, analysis, classification, verification, interpretation and presentation of financial information. There are various types of bookkeeping. One of these is corporate accounting. Corporate accounts deals with processes such as the preparation of cash flow statements, financial records, balance sheets and more. It can be used to handle corporate business processes such as absorption, and the creation of consolidated documents. Here is more about this type of accounting.

• Corporate Accounts is a special branch of accounting which deals with the accounting for companies ,preparation of their final accounts and cash flow statements, analysis and interpretation of companies’s financial results and accounting for specific events like amalgamation, absorption, preparation of consolidated balance sheets.

• PRIVATE COMPANY The term privately held company refers to the ownership of a business company in two different ways: first, referring to ownership by non-governmental organizations; and second, referring to ownership of the company’s stock by a relatively small number of holders who do not trade the stock publicly on the stock market. Because of these two different meanings, the use of the term should normally be avoided unless the context makes clear which definition is intended. Less ambiguous terms for a privately held company are unquoted company and unlisted company.

Tax consultants, also know as tax advisors, are experts in tax law, planning and compliance. So MASKBC serve businesses by staying current on new tax law and positioning taxpayers for short and long term tax optimization. A tax consultant typically expands on the role of tax preparer. While tax consultants prepare tax returns, they also often work closely with clients throughout the year to ensure client tax liability is minimized. Tax consultants work for public accounting firms, law offices, and many even have their own independent tax preparation. In all settings, tax consultants can be expected to perform duties that include:

• Conducting research on tax laws

• Strategizing with clients to minimize tax liability

• Communicating with clients to explain tax issues

• Preparing tax returns

• Estate planning

• Keeping clients compliant with their tax obligations