Accounting is a discipline concerned with capturing, recording, analyzing and forecasting of business and financial data to generate information on economic activity of an organization.
At Nahashon & Company, we offer the following accounting services:
1. Financial accounting / bookkeeping.
This involves maintaining an accounting system that captures financial information of an entity then reporting the results there from by way of generating financial statements (statements of financial performance, financial position and cash flow).
The financial accounting functions include book keeping (process of recording financial transactions in the accounting records), budgeting and provision of timely management reports. Our practice is to work with the entity’s management to ensure that our services conform to their needs.
2. Development of accounting systems.
The concern here is coming up with financial accounting systems that generate financial reports for business entities for use in decision making.
It involves designing a chart of accounts (an index to all ledgers – a collection of related accounts) as well as setting up of financial data bases, working capital and reporting systems (electronic and manual as the entity will prefer).
3. Compilation engagements.
Compilation involves preparation and presentation of historical financial information (from records kept by the client who does not maintain any kind of accounting systems) without obtaining any assurance on the historical financial information.
An entity’s management requests a professional accountant in public practice, like Nahashon & Company, to assist with the preparation and presentation of financial information of the entity.
The firm applies professional expertise in accounting and financial reporting and compliance with professional standards, including relevant legal and ethical requirements then communicating the results to the client.
Having proper books of accounts kept comes with invaluable benefits. Some of these benefits are as outlined below:
- Financial information necessary for decision making and planning is readily available.
- Determination of the entity’s operating performance is easily done and done faster.
- The entity is able to monitor its financial position without difficulties.
- Good relations are fostered with other service providers (e.g. insurance companies, financial institutions) and the regulatory authorities (e.g. Kenya Revenue Authority).
- Provides data necessary for tax planning and management.
- Complete computerised accounting service from our office as well as at client’s premises.
- We will set up an accounting software at the client’s and operate the same as per their requirements.
- Monthly management accounts and generation of requisite reports with key feature analysis.
- Produce the statutory final accounts as per the Companies Act.
- We provide the accounting related consultancy to all categories of clients such as manufacturers, traders, builders, contractors, infrastructure projects, NGOs etc.