Keeping accurate records of your transactions is only the beginning when it comes to having your financial records properly kept. While bookkeeping and accounting are often used synonymously, they actually mean two different things: bookkeeping is merely the sorting and posting of transactions while accounting entails compiling your financial data into statements and other documents that comply with regulations, as well as provide you insight on how your business is performing.
Rue & Associates offers premier accountant services that go beyond simply taking care of your books and ensuring they are properly done. Our skilled accountants can assist you with the following:
- Adherence to generally-accepted accounting principles (GAAP.) Organizations of all sizes must comply with GAAP so that financial statements are fairly presented for external users such as banks and investors or any other parties that need to see your financial information.
- Conversion from GAAP to IFRS (international financial reporting standards.) As more businesses develop a global presence, even small companies are adopting IFRS instead of GAAP. We can prepare your financial documents to reflect IFRS instead of GAAP if need be.
- Reports, key ratios, and other information based on your financial data. While financial statements are prepared in accordance with GAAP for external users, accountants can also prepare internal reports that can help you make informed business decisions.
- Guidance with accounting procedures. Keeping track of your transactions in a spreadsheet or accounting software may be enough of a safeguard if you are a solopreneur or very small business. But once your business grows and more people begin to have access to your sensitive financial information and potentially processing large volumes of transactions, it’s important to develop the proper procedures and policies for your accounting system. Rue & Associates can help determine what kind of accounting procedures and policies you should set and how you will delegate responsibilities.
No matter the size of your organization and the volume and complexity of your transactions and overall business environment, Rue & Associates is here to help your business grow and sustain itself through quality accounting services.
6 Questions to Ask When Hiring an Accountant