Business Process Outsourcing

Business Service Outsourcing

Business Service Outsourcing refers to the process of contracting standard business functions to be handled by Specialists outside of the company. We provide companies with a range of accounting, payroll and compliance services to support their growth and changing business requirements.

Companies can outsource their Finance function (in whole or in part) and achieve more flexibility, leverage expertise of the service provider, business continuity and cost efficiency.

We provide the below range of services to assist you and make your business a compliant one:

  • Outsourced CFO
  • Accounting & Book Keeping
  • Receivable Management
  • Payable Management
  • Accounting review
  • Costing review
  • Management Accounting
  • Payroll Process and Management
  • Treasury Services
  • Secondments in Finance Function
  • Inventory Management
  • Route Audit

Fixed Asset Management

Significance of of fixed asset register further arose in the recent as many accountings related fraud were surrounded with capital expenses and fixed assets.

There are lot of misconceptions amongst the stakeholders on Fixed Asset register. The value of Fixed assets shown in the financials does not give an assurance that all the fixed assets are physically available and used efficiently.

Common issues faced by the clients

  • Fixed Asset register has not been maintained separately.
  • Incomplete fixed asset register.
  • Independent assets accounted as single purchase
  • Sub-assets improperly treated as main asset leading to extended depreciation life (not in accordance with IFRS)
  • Scrapped assets still appearing in the books (physically not available)
  • Asset transfer to other location/branches has not been updated in Fixed asset register.
  • Idle and obsolete assets still treated as good assets.
  • Not recorded under appropriate asset class resulting in incorrect deprecation
  • Changes in FA recording practices over the years have not been given effect to the FAR
  • Detailed asset descriptions may not have been updated in the FAR, such as, Model number and Serial Number, Manufacturer name etc.
  • Asset location may not have been updated in FAR
  • Asset user may not have been updated in FAR
  • General Ledger and Fixed Asset Register mismatch
  • Absence of Standard Operating Procedure with regard to Capitalization and Fixed assets purchase, physical verification and disposal etc.

We provide below range of services relating to FA Management:

  • Physical verification
  • Supporting document gathering
  • Reconciliation /Mapping
  • Asset value allocation
  • Tagging
  • FA SOP preparation