Preparation of Data is the most time consuming process in any organization. The entities hire many professionals just to prepare, co-ordinate and submit the data to various authorities. FIBOTA offers various services for preparation of Financial data as per the requirement of the customer. FIBOTA help their clients to save time in preparation of the Financial Data.
Preparation of Reconciliation Statement which may include but not limited to Reconciliation of TDS, GST etc
Preparation of Companies / firm / entities Profile in Power Point, word etc
Preparation of MIS as per the required objective of the Management.
Other legal Drafting Services which includes submission to be given to bank, Tax Departments, Partnership deed etc
Service 1: Preparation of Reconciliation statements for large corporates. The large corporate has voluminous data to be handled and considering the continuous process they need data to take further actions and mitigate the risk. Say for example the Credit balance under GST in the books of accounts should matched with GSTR-2A. If there is mismatch the company needs data as to which vendor has defaulted in payment and filing of GST return due to which the credit is not reflected in GSTR-2A. FIBOTA’s services help their client to identify such vendor as they prepare the detailed reconciliation as per the requirement of customers. FIBOTA offers various reconciliation services to their customers which helps them to mitigate the risks. The quotation for this kind of services is based on the nature of assignment.
Service 2: Preparation of Financial statements for all kind of entities. An entity may have to report their Financials as Per IND AS, Schedule III of Companies Act, 2013, The Real Estate (Regulation and Development) Act, 2016 or any other statutory law. FIBOTA offers Preparation or convergence of Financial Statement to such entities. The quotation for this kind of services is based on the nature of assignment.
Service 3:Preparation of MIS as per requirement of management. In case of entities having strong MIS reporting requirement, FIBOTA helps their client for preparation of such financial data as per the requirement of management which enable them to take strategic decision based on such MIS. The quotation for this kind of services is based on the nature of assignment.
Service 4:Apart from financial data, FIBOTA has creative designers and FIBOTA offers Preparation and Presentation of Entities Profile which will help them to market their services or products, strengths and experiences. The quotation for this kind of services is based on the nature of assignment
Service 5:Any kind of legal drafting services such as preparation of Partnership deed, Memorandum of Articles or Article of association of the company, FIBOTA offers all kind of legal drafting services. The quotation for this kind of services is based on the nature of assignment.
1.FIBOTA has required manpower with technical skill for execution of the assignment. So it helps client to save their time and focus on their core competences.
2.Infrastructure cost and training cost to the staff is saved for the entities availing services from FIBOTA.
3.Confidentiality of the data is ensured by FIBOTA.
4.The team of FIBOTA possess the knowledge of using varieties of Accounting softwares/ERPs.
IND AS applicability were made mandatory in phases, the details of which are under: -
IRDA has deferred implementation of IND AS in the Insurance Sector by two years i.e. IND As would be applicable from 01/04/2020
RBI has deferred implementation of IND AS on commercial banks by one year i.e. IND AS would be applicable from 01/04/2019.
Standalone financial statement shall be considered for the calculation of Net worth. Net Worth = Paid-up share Capital + all reserves* out of profit & securities premium account –(accumulated losses + deferred expenditure + miscellaneous expenditure not written off)
* Reserves created out of revaluation of assets and written back depreciation shall not be included in net worth calculation