Accounting Tax and Financial Services- Fahim Ekbal Moledina

Accounting Tax and Financial Services help businesses understand their current financial situation and make informed decisions. These services also protect assets and manage risk.

Both accounting and taxation are important to keep businesses in compliance with state and federal laws. They also aid with long-range planning such as infrastructure upgrades or property acquisitions.

Fahim Ekbal Moledina is a solutions-focused strategist who has been leading organizations for over a decade to meet their targets and focus on continuous improvement. I have considerable experience in change, product, and project management. I am a professional project manager, certified agile, and change practitioner. I have expertise in business process re-engineering, workforce planning, leveraging technology and software, and enhancing operations to eliminate waste and successfully helped multiple companies in meeting their long-term goals and generating actionable strategic plans.

Accounting

Accounting is the process of recording, summarizing and analyzing business transactions that involve monetary value. These transactions are then reported to different stakeholders for their use in making business decisions.

Taxation is a form of government compulsion that results in a charge of money or property on individuals and entities that are within the governmental authority to collect. Modern systems of taxation have varied significantly across jurisdictions and time.

Financial accounting is a branch of accounting that focuses on specific financial transactions that affect a company’s or individual’s taxes. These transactions are governed by specific tax laws and must be submitted to the appropriate authorities as required by law.

Financial accounting is also a branch of accounting that focuses on the effects of a company’s activities on society and the environment. This branch of accounting requires accountants to disclose the social benefits and costs associated with a company’s activities in its financial statements. It aims to hold management accountable for their choices that result in societal well-being and advancement.

Taxes

A tax is a fee that government or authorities require citizens and corporations to pay in order to fund public services. It is a form of economic regulation that may be justified by utilitarian, political, or other reasons.

Accounting Tax and Financial Services

Accounting is the process of recording and classifying financial transactions in order to provide useful information for businesses. It also helps management to make decisions that will benefit the company.

Accountants are responsible for preparing the financial statements of companies and banks depend on them to assess the health of a company. Students can get accounting assignment help from websites to improve their skills and knowledge of this field of study.

In addition, accounting experts can assist in optimizing corporate tax returns while remaining compliant with tax laws. They can also help companies to plan their fiscal year-ends, manage audits, and more.

Payroll

Payroll is the process of calculating and processing wages and salaries for a company’s employees. This involves preparing paychecks, withholding tax and other deductions from employee pay, reporting and paying taxes to federal, state and local agencies and more.

It is a critical part of accounting as it directly impacts a company’s net income. This is why it is crucial that payroll is handled correctly and according to all regulations, which can result in fines and penalties if errors are made.

The payroll management process is a repetitive and time-consuming task that could easily lead to mistakes, which is why it is important to optimize it through the use of computers. Computers offer databases that can be saved on storage devices and remote online cloud storage systems accessible with login credentials. This provides essential backups for payroll data in case of system failure or hardware damage. It also provides a graphical representation of the company’s payroll, which is vital for financial assessments.

Auditing

Auditing is a process that involves closely reviewing financial statements to ensure accuracy in reporting. It can be conducted internally (by a company’s internal auditor) or externally (by a hired accounting firm).

The main function of auditing is to examine books of accounts along with vouchers and documents to detect and prevent future errors/frauds. Besides, it also helps in protecting the organisation’s financial interests by making sure that the valuation of inventories is accurate and that no wrongdoers are trying to cheat the company out of its money through inaccurate valuations.

Once the auditing is completed, the company receives a report detailing the findings of the audit. The client then meets with the auditing team to discuss the findings and develop a plan for resolving any issues found in the audit.