Accounting Tax and Financial Services- Fahim Moledina
Accounting Tax and Financial Services provide support to businesses to help them comply with federal, state and local regulations. These services include preparing business tax returns, reconciling bank records, and handling employee information.
Accounting also covers a range of financial transactions, including cash flow, inventory and other balance sheet items. For example, companies use FIFO and LIFO methods for inventory recording and reporting.
Fahim Ekbal Moledina is the Principal Consultant for Opti-Syn Consulting and is a business leader with expertise in project/change management, finance, lean/agile methods, as well as marketing and sales. He has a passion for technology and has led multiple business transformation projects.
Bookkeeping
Bookkeeping services are an important part of a business’s accounting process. They help you keep track of incoming and outgoing transactions and generate financial statements to provide you with insight into your business’s performance.
Whether you’re a small company or an established enterprise, accurate record-keeping is essential for maintaining and growing your business. At Tax & Financial Services of NY, we offer bookkeeping support to help you maintain and manage your day-to-day finances while you focus on your core operations.
In addition to recording incoming and outgoing transactions, bookkeepers are responsible for creating budgets, balancing ledgers and managing payroll. They also provide financial overviews to clients and may help prepare their taxes.
Many bookkeepers have at least a high school diploma and an associate degree in accounting. Some pursue a bachelor’s degree to learn the industry in more depth. Certifications are available from organizations like AIPB and the National Association of Certified Professional Bookkeepers (NACPB).
Tax Preparation
Accounting Tax and Financial Services offers tax preparation services for individuals, as well as businesses. These services are available in person, by phone or online and include preparing tax returns, filing and refunds.
A tax preparer’s job is to provide clients with the necessary documents needed to complete their tax returns, as well as to ensure that any filing complies with federal and state laws. They may work for an accounting firm, in their own home office or as an independent contractor.
They are also responsible for keeping up with any changes to the tax code and ensuring that their clients remain compliant. They also handle any tax audits and appeals that are presented to them by the IRS.
A tax planner works with their client to develop a comprehensive plan that takes into account their year-round activities and the applicable regulations for the year ahead. This plan usually involves an initial onboarding meeting, as well as frequent communication throughout the year to ensure that the clients’ goals are met.
Auditing
Auditing is a way to check the accuracy of your company’s financial records. It is also a great way to ensure that you are complying with regulations and policies.
A good audit will not only make your financial statements more accurate, but it will help you understand where your business stands financially and what needs to be changed. It also can motivate you to create better accounting systems and processes that will reduce errors.
Auditors are accountants that investigate the financial documents of an organization to evaluate their accuracy, efficiency and adherence to standards. They work in both public and private industries.
A person with a bachelor’s degree in accounting and an interest in working independently can start an audit career. They must have strong communication skills and be able to work well with clients.
Business Advisory
Business advisory services offer an objective point of view to help businesses make progress. They can identify inefficiencies and redundancies, streamline processes, and cut down on time-consuming tasks.
These advisors can also provide professional counsel regarding financial modeling, planning, and forecasting to help companies prepare for the future. This advice can help them achieve better outcomes and increase revenues.
Another common service is strategy consulting, which assists companies in developing long-term and short-term plans to support their goals and objectives. It also helps them track and monitor progress.
These advisory services are available for both new and existing companies. They can be very helpful for any organization, regardless of its size or industry.
