With changes in the scale of business, cross border transactions and setting up of big corporate has create a requirement to convert or maintain Financial Information in more than one accounting frameworks. It is following by the convergence of Indian Accounting Standards to IFRS and one GAAP conversion to another. And these convergence not only influencing the financial reporting systems but the internal controls and other financial & legal aspects of the organisation.

We at Accounting Forte can assist you in IFRS Implementation and in different conversion processes, like Maintaining Financial Statements as per IFRS, Conversion from International GAAP to Indian GAAP for Indian consolidation and suggesting appropriate accounting treatment. Today Reporting under IFRS is viewed as the universal standard on worldwide level. Ministry of Corporate Affairs already issued a roadmap on IFRS implementation by specifying it in Companies Act.

Accounting Forte’s team has vast experience and understanding as how these challenges would face. Many business policies, estimates, plans will undergo change due to IFRS convergence. We have also made the standards on which the adoption process will take place.

There is a requirement for all the companies and non-corporate businesses to assess compute and deposit the tax to the relevant authority. There are many tax and non-tax laws that are applicable in India to deposit taxes and filling statutory returns with the respective authorities under the relevant Act. Like; service tax, income tax, etc. Mostly all the Statutes are framed in a manner to provide maximum benefits to business sector. However, this could be done only with proper tax planning. Non-Compliance the provisions of statutes will attract late fine, penalties, interest and in some cases prosecutions.

Accounting Forte assist their clients in following the statutory provisions related to timely return filing, tax deposits and other to the respective departments. Accounting Forte is the name that solves the hurdles for companies or any businesspersons as well with respect to statutory returns related to any tax matter. Our team deals with almost all the tax matter including tribunal representation on client’s behalf. It deals with all the legal matters.

Payroll in general is the sum total of financial records of salaries for an employee, wages, bonuses and deductions in a Company. But in Accounting, payroll refers to the amount paid to employees for services they provided during a particular period of time. Payroll and their taxation are subject to laws and regulations and considerably affect the net income of most companies. Employees are responsible to payroll errors and irregularities; good employee morale requires payroll to be paid timely and accurately.

Accounting Forte provides managed services for companies who are looking for a realizable payroll/HR provider that can work collaboratively with them to manage their payroll operation and is a key part of our solution offering. We take all the responsibilities of payroll management and the administrative tasks that go along with it. Our standard formats and simple procedures integrate the entire procedure easily. We undertake the various confirmations and analysis; likewise, we make sure that Gross Salary does include all wages, tips, and compensation in the pay period. Then we Calculate employee's gross pay from employment agreement or time sheet and determine withholding amount for income tax in Delhi and in all over India by our associates. These all arrangements are done keeping in view their contribution for Medicare, Provident Funds, deduct additional employee items such as retirement and savings plans, health insurance, charitable contributions or garnishments; process payroll manually or through company’s selected system. Our consultants providing the advisory service or consultancy service in the best manner to serve our clients.

Accounting Forte is designed a framework of Financial Process Outsourcing (FPO) for all segments of companies. We are doing Process Outsourcing related to finance and accounts in a wide range to the extent regions of the India, Europe and to the United State as well. Our FPO includes bookkeeping, books reconciliation and preparation of financial statement. Customised FPO packages, for small to midsized businesses, which are specially designed for Economic Accounting Solution.

Financial statement is required to be prepared according to many laws and it helps in maintaining reliability of business transactions. It is not necessary that all the segment of businesses must be aware with the preparation and book keeping of the financial statement. Now there is no reason for such businessperson to get worry about the preparation of the financial statement as the expert of all the business problems is here. We believe to improvise the business systems there should be proper design and framework to enhance the financial reporting system. This will not only ensure the effective and efficient control but also help to monitor the performance and in Enhancing their cost accounting system. The Accounting Forte is the name, which can solve all the business related problems.

Accounts payables and receivables are the short-term liability and asset for an organisation and a regular term that often use in any business. Both are need to managed properly and on time so that it do not increase any other further cost or to reduce the financial cost that might arise in the form of interest. Accounts Payables and Receivable are generally arise on credit sale or purchase transactions. There are many issues, which arises in the preparation and in the maintenance of accounts receivables and payables. Like to whom we should allow goods on credit and the time limit that should be allowed to repay the credit, etc.

We at Accounting Forte deals and help our clients in all the aspects related to the accounting payable as well as accounting receivables. We deal with the followings to help our clients so that they could focus on the main objective of their business rather than to waste time on the small hurdles of the business in dealing with it:-

• Credit worthiness of the customer
• Secured invoice discount
• Considering the repayment timing
• Considering the term for payment and receipt as well
• Analysis, overview and suggestions
• Billing services