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How would you manage all accounting work including tax return?

How would you manage all accounting work including tax return?

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تم إضافة السؤال من قبل Wilfredo Quito , Accounting Manager , DDC LAND INC.
تاريخ النشر: 2016/10/19
kamran khalid
من قبل kamran khalid , Head Of Finance , Pace College

In an small sized organisation A person did all works related to accounts & also prepare income tax return on year ended due to small frequency of work in Accounts.

 

In an Large sized Organisation Every work dedicated to an Individuals. So a person can't manage all work related top Accounts & Income Tax.

Anil Lalwani
من قبل Anil Lalwani , Chief Accountant , Al Ahli Hospital

Thanks for invitation:

To answer this question, number of factors are involved as given below

  1. Size of the company: as rightly pointed our by our friend Kamran Khalid in above answer.
  2. Team involved : Depending upon team members it depends upon each team member to perform their job in accounting and tax filing
  3. Time frame: Depending among time frame by which we have to file tax return for example in Qatar if accounting year ends on 31st December 2015 then due date for tax filing is 30th April 2016.
  4. Auditing : If prior to Tax filing audit is mandatory then it depends on Auditor to complete audit within given time frame.
  5. Management : If management is more active and keen the work will be more easier and smooth
  6. Coordination : The head of accounts have to make necessary coordination among staff management and auditor so that both accounting and tax filing is done on proper time.
  7. Awareness of Tax Laws : Its very important in accounting and Tax filing.

 

Nazmul Islam CMA
من قبل Nazmul Islam CMA , Manager , Robi Axiatal Ltd.

If you mean reporting purpose only the focus would be on following IFRS or GAAP along with conformance to the local legal,  fiscal policy & tax policies so that accurate & on time financial statements are prepared.

Tomasz L
من قبل Tomasz L , Reporting Specialist , Outworking

I agree with all previous answers. Size of the company and the complexity of processes are the most important. Build strong team, delegate responsibilities if you need, invest in proper infarastructure. Ensure that all processes are under your control, and be extremely sensitive for tax issues.

Saifullah Saifi
من قبل Saifullah Saifi , Accountant , United Brothers Trader

You should record you day to day transactions according to accounting rules, make the financial statements and file the tax return according to your country tax legislation

Ahmed Mostafa
من قبل Ahmed Mostafa , Manager, Forensics , KPMG ME

you have to follow up the accounting procedures and after you finish the financial stetemtns you will start to prepare the Tax return and make some adjustments on the accounting  profit complying with the Tax law in your country

Ahmed mohsen
من قبل Ahmed mohsen , Senior Accountant , Main Poly Clinic

 i would verify the accuracy of all money transactions and to make sure that all these transactions are legal and follow current guidelines. I was working for a company on a contractual basis to do the books or tax returns. also i worked for private individuals and help them with their financial decisions, tax returns, or other money-related issues.

Ahmed Ezzat Mohamed Nasr
من قبل Ahmed Ezzat Mohamed Nasr , Finance Director , M. Alriyadh Co. (Group of Co.)

Thank you for your kindness invitation.

I'm fully agree with all previous  and expert answers.

Regards

krishnan mohan
من قبل krishnan mohan , Lab Technician

maintain the ledger book up to Journal and balance sheet (in system tally)

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