Bookkeeping or Financial Statements preparation services ? That is the question.

Presents the revenues, expenses, and profits/losses generated during the reporting period. This is usually considered the most important of the financial statements, since it presents the operating results of an entity.

Presents changes in equity during the reporting period. The report format varies, but can include the sale or repurchase of stock, dividend payments, and changes caused by reported profits or losses. This is the least used of the financial statements, and is commonly only included in the audited financial statement package.

Presents the cash movements that occurred during the reporting period. This can provide a useful comparison to the income statement, especially when the amount of profit or loss reported does not reflect the cash flows experienced by the business. This statement may be presented when issuing financial statements to outside parties.

A financial report detailing the change in a company’s net assets during a specific period of time. A statement of comprehensive income differs from a typical income statement, which details profits and losses, but may omit changes in net assets due to transfer of equity holdings, change of ownership, or other factors.

Presents the assets, liabilities, and equity of the entity as of the reporting date. Thus, the information presented is as of a specific point in time. The report format is structured so that the total of all assets equals the total of all liabilities and equity (known as the accounting equation).

VAT is generally subject to constantly changing legislations and policies especially if it is newly implemented such as the case with the Bahrain VAT law. This makes it even more challenging and complex as the financial service team needs to be very proactive in understanding and implementing the latest taxation norms as applicable in the instant case. Through utilizing our VAT services, clients will be able to hand over the responsibility of computing the VAT payable and processing VAT returns. They will be able to focus more on growing their business while we process their returns quickly and accurately.

For small to mid-sized businesses with limited staff and resources, it would be cost effective to opt for outsourced bookkeeping services rather than hiring inhouse accountants. This shall enable such business owners to focus more on business growth and relieve them from the responsibility of maintaining their accounting records.

A true and fair representation of financial statements is required by any organization in order to facilitate tax preparation or VAT preparation and auditing procedures generally undertaken at the end of the financial year. Although it is not advisable to do so, some companies may opt to postpone the preparation of their financial statements until the end of the year or just before the financial audit. This can be an overwhelming task even for the most experienced accountant. In such cases, professional accounting firms such as ours will be able to provide the required support.

There are some transactions that may occur only once throughout the life of a company. In other cases, the same transaction can have multiple accounting treatments which may all be valid. To help companies wade through the technicalities and complications of financial reporting and report transactions accurately and in the most advantageous manner, you can contact us and ask for consultations on those specific transactions.

Companies may have a complete accounting team in place however, at times, they may find themselves in need for extra hands on deck. Instead of hiring redundant employees who will only be really doing any work for a few days in a month, Capital Profits Accounting Services Bahrain will be glad to provide qualified accountants to help perform the tasks required on a per hour or per day basis.

To make informed decisions, you need accurate information. Most business owners will base their decisions on raw data which can be overwhelming. Capital Profits will be able to transform raw data into useful information. The real power of analytical reporting and data visualization lies in its ability to display unexpected findings in a clear and self-explainable manner. To help bring life to data, Capital Profits can produce visualized and graphical dashboards that deliver information easily and quickly.