Tax Bookkeeping Payroll, limited liability company
When making assertions about an asset, management needs to remember several key points:
Check depreciation and anything else related to the claimed asset to make sure that your balance sheet is accurate. Check that you have the rights to this equipment. Check with banks about your accounts receivable. Never look for a way to produce fictitious paperwork-proof.
Send confirmations to banks about your company’s cash balances, to investments custodians about marketable securities, to customers about accounts receivable, to makers about notes receivables, to consignees about inventory on consignment, to insurance companies about cash surrender value.
Check that you recorded ALL of your assets. Is there inventory in transit?
You need to make sure that you value your:
You must properly classify your assets
It is important to remember that you need to use techniques of predicting account balances, based on analytical procedures, for example. Compare ratios from previous years to current year. Check what company’s depreciation is to company’s assets. Check accounts that arrive from what company claims on Financial Statements and then check if what your company claims makes sense. Keeping financial records in order is critical to any business operations, as well as following company’s policies and procedures is a good way to stay on track.
We Are Members Of
Have A Question ?
Call Us : 220-201-93-81