Expert accountancy guidance and support can not only help businesses adapt to new demands, but can also promote wider success.
In challenging market conditions such as those experienced across the Middle East, it is more important than ever for businesses and organizations to obtain accurate accounting advice. Expert accountancy guidance and support can not only help businesses adapt to new demands, but can also promote wider success.
KPMG’s Accounting Advisory Services help make the finance function a source for strategic advantage by helping an organization to cope with the changing business environment, competitive pressures, regional growth, resource constraints and regulatory developments.
Our services include:
Financial reporting and bookkeeping services: The finance and accounting functions form the backbone of any business, providing a range of support services to the core business processes. Our services enable our clients to focus on these core competencies to achieve operational excellence and outperform the competition. Our services include:
- Setting up an accounting function: We help to set up the accounting function for newly-established businesses.
- Bookkeeping in accounting software: Recording of accounting transactions on a double-entry system using accounting software.
- Providing financial reports in accordance with IFRS: Trial balance, statements of financial position and comprehensive income, bank reconciliation, fixed asset and depreciation schedule, other supporting schedules, cash flow statement, etc.
- Other reporting: Departmental or profit center analysis, consolidated accounts, financial statement preparation and disclosures.
Secondment of personnel
We provide onsite support for finance and finance-related administrative tasks on a "short-term" or "long-term" basis. We also provide "part-time" and "full-time" secondment of personnel.
Expense claim processing
We provide activity-based services helping organizations manage their resource allocations. This includes:
- Verification of claims such as travel, medical etc. as per company policy.
- Preparation of payments for these claims.
Payroll processing is an important, confidential and time consuming activity in every organization. Errors or delays in processing payroll impact employee morale. We acknowledge these facts and accordingly our services have been designed to manage these risks and cover:
- payroll processing as per applicable policies
- preparation of bank transfer letters/bank upload files (where applicable)
- preparation and communication of pay slips
- maintaining employee terminal benefits schedule as per Bahrain labor law
- preparation of journal entries for payroll to be passed in the accounts
- preparation of salary certificates.
How we can help
At KPMG, our Accounting teams help clients reach the right accounting conclusion for their business in the context of reporting objectives, commercial reality and regulatory requirements. We are experienced in advising clients on challenging, complex issues that arise from transactions, business decisions and regulatory changes.
Our team comprises of professionals who are experienced in advising the firm’s clients on a wide range of issues whilst, at the same time, providing them with cost efficient advisory solutions that are designed to achieve greater optimization in their key internal processes and ultimately achieve the objectives of their business.
Our skills and knowledge in accounting and financial reporting processes mean that we can provide proactive advice to you from management’s point of view. Our services are specifically tailored to address the growing need for entities at all levels to have an efficient, and yet sustainable, finance function with robust processes that are in line with Bahraini laws and regulatory environment.