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ABS provide regular accounting supervision

Our executive will visit your office on periodic basis, weekly or monthly depends upon the scope of the work and time required to complete the assignment. All the data entry work has to be done by the full time accountant of the company. Our accounting supervision service will cover the following:

  • Review of books of account with necessary supporting documents will be carried out. Major observations which require management attention and actions will be conveyed depending on its importance.
  • To ensure that recognition of revenue transactions were properly made as per prudent accounting principles and in conformity with the nature of business and as per contracts.
  • Analysis of sales will be made to see from the angle of contributions made by different category of products, sales men etc.
  • To ensure the payments made by the company are supported with proper documents and authorized by the concerned manager/owner.
  • Check whether the payments are entered on accrual basis and proper cut off procedure is done at the end of every month.
  • To ensure that reconciliation of bank accounts, customers’ accounts, suppliers’ accounts and other major accounts were prepared correctly and in time.
  • To ensure proper recognition of advances, prepayments, unearned income etc are done by verifying the accounting records and transactions.
  • Further monthly review reports will be prepared and issued to the management at the end of every month including the analysis of financial statements, financial ratio analysis, analysis on working capital, BEP, marginal safety etc. and our findings on the review of books of account.