Through our systematic approach our clients will be provided with bookkeeping essentials, which are necessary in order to fully understand the overall profitability of their business.
Our approach includes:
In time, we will create a solid foundation for your business accounting system through our custom approach.
Reporting is essential to creating a sound understanding of the performance of the business. Our team implements international accounting standards to prepare financial statements for our clients. These statements are beneficial when making informed decisions, especially when streamlining expenses to ensure cost-effectiveness. Reporting is divided into Financial reporting and Management reporting, both which are compliant to international standards.
Financial reporting includes the standard monthly, quarterly, and yearly reports which clients will receive from ATHAR on a periodic basis. This includes:
Financial statements are mandatory for all businesses and are highly beneficial when seeking financial assistance or investments to grow your business.
Management reporting enables you to have a deeper understanding of the performance within your company according to department, team, project etc. This includes profits generated and losses incurred among other factors which are beneficial when measuring performance, planning, regulating and making decisions. These reports can be analyzed by managers to highlight patterns and convert them into useful information for the company. Management reports provide you with insights into the financial standing and performance of your business at specific periods of time, which could result in a higher ROI when utilized correctly.
With the recent introduction of Value Added Tax (VAT) in the Kingdom of Bahrain, it is necessary for businesses to make the required adjustments in their financial records. VAT is applicable on numerous goods and services within Bahrain, however businesses can claim a refund for VAT paid on certain business expenditures.
ATHAR will conduct a VAT impact assessment for your company to suggest any changes required in your business process and system. Our team will further assist you in the registration process, manage your cash flow with regards to VAT payment and refund, and prevent any penalties or fines.
Our team has an in-depth understanding of industry-leading accounting software, its relevant features and applications. Our team members will advise you on the best accounting software for your business and implement it while seamlessly guiding you on its correct usage.
Our team is trained to implement cost management plans which effectively outline your project’s estimation, allocation and control of costs to complete all project activities. As one of the most essential parts of a project’s planning phase, ATHAR’s specialized cost management service guarantees that project costs are kept within the limits of the budget through careful planning, funding and control. ATHAR can help you create a cost management plan with the best pricing on the market giving you an advantage over your competitors.
Our team will incorporate a simple cash flow report which will allow you to make well-informed, timely decisions based on accurate financial information. Cash flow reports can help prepare your business for growth and alert key decision-makers of potential problems in terms of sales, pricing and overhead costs.
Understand the financial nature of your business through ATHAR’s budgeting services and analysis. Our team will adeptly create your master budget by compiling your business’ sales budget, cost budget, capital expenditure budget and cash flow budget. We will further create control procedures to ensure you are following the approved budget during the year.
ATHAR provides support professionals with appropriate accounting skills to work with clients during critical time periods, to cover for staff shortages or work on specific projects. We will provide you with a professional accountant to take care of your accounts within a reasonable budget.
