Accounting & Outsourcing
Ongoing pressures to improve business performance and reduce overall costs have prompted many executives to seek new approaches, including the outsourcing of the finance and accounting function.
BDO provides you with the opportunity to benefit from the services of fully qualified and specialised resources without the burden of hiring people, sick leave, optional leave and running the office.
In case your company already has an established finance department, outsourcing part of the work can assist in reducing and managing the workload and increase overall efficiency.
Outsourcing your accounting work can reduce your business costs by 40%.
Engaging BDO Malta does not only reduce the costs of your company but also provides your business with the benefit of an efficient and experienced back-office service.
The bottom line is that it saves you the time and effort and leaves you free to fully concentrate on what matters most, which is, running the business.
The services include, but are not limited to, the day to day postings, debtor collection, supplier payments, maintenance of bank accounts, preparation of monthly/quarterly/annual management accounts, as well as annual financial statements for auditors' review, liaising with auditors, tax planning and submission of annual returns as well as VAT representation and compliance.
We can also assist companies with the following services:
Regulatory filings with the MFSA
Due to the increase in companies licenced by the MFSA, we can assist such companies with the preparation of the quarterly management accounts and the overall review of files before submission. We can also assist companies with the actual upload of the files within the MFSA and the Central Bank of Malta (CBM) portals.
Assistance with the preparation of financial statements under the local framework GAPSME.
We can have the necessary knowledge in-house to prepare the financial statements under GAPSME framework based on the trial balance and accounting ledgers provided to us by clients. The financials will be tailor-made for each instance and will be finalised by us to be forwarded to the auditors.
Assistance with the conversion of the accounts from IFRS to GAPSME and vice-versa.
The conversion from IFRS to GAPSME and vice-versa may be necessary for companies that are either increasing or decreasing in size, as well as due to the change in companies' policies. The other reason for such can be group reporting requirements and preparation of consolidated accounts for the local regulators and/or foreign investors. Being highly technical and the standards-knowledge based in nature, we have the necessary knowledge and experience to assist with such conversion/s.
Our accounting professionals will assist you with determining the (financial) consequences of your strategic options. On the basis of a financial assessment we show you what your strategic options mean for the balance sheet, results, liquidity forecast and any financing needs of your business. We prepare various scenarios so you have a realistic picture of the potential developments within your organization
Budgeting is the tactical implementation of a business plan. We can assist clients in anaysing the budget implementation and comparison with the actual performance, including reporting showing strenghts and weaknesses.
Review of accounting policies & system or financial statements before audit.
BDO can assist your company in transforming itself into a high-performance organisation that streamlines processes, maintains compliance and cuts costs, all while letting you focus on your core competencies and the growth of your business.
Assistance with placing companies into voluntary liquidations
The complexity and the length of the whole liquidation can be stressful at times. We can assist companies throughtout the whole liquidation process as we are capable to provide various services such as: assistance with appointment of a liquidator, third-party auditor, filing of liquidation forms, et.
The level of service is tailored to suit the level required by the client, whilst maintaining the quality of service at a reduced cost through efficiencies of operation and economies of scale.
The package of service may include either full outsourcing of the services provided by our highly qualified and experienced staff, or the outsourcing of one or more services which the client wishes to sub-contract.
Get in touch with our Accounting team: