Preparation of budgets and financial, tax reporting

Preparation of financial or tax reporting is a procedure aimed at collecting and summarizing of financial information about the company’s activities, within the established rules and for a certain period, in order to provide users with consolidated data for making decisions or implementing certain actions.

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Based on the prepared reporting, the company pays taxes, the owners make a decision to pay dividends, increase their own capital, managers make managerial decisions, accountants consolidate information with the кузщкештп of the parent company, shareholders make decisions to buy or sell shares, the value of the business may grow or fall.

Why do companies ask outsourcing companies to prepare such reports? Management or the owner wants to minimize the risks of preparing unreliable or incorrect information, which as a result can lead to financial losses, and sometimes to criminal prosecution of the company’s management. It is common practice when the company does not have free or qualified personnel to prepare certain reports.

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