Elena Salerno
Accounts Outsourcing Senior Manager
BDO Malta provides you with the opportunity to benefit from the services of fully qualified and specialised resources without the burden of hiring people and running the office. In case your company already has an established finance department, outsourcing part of the accounting can assist in reducing the workload and increasing overall efficiency.
Cost reduction is one of the main benefits of outsourcing your accounting services.
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 time and leaves you free to fully concentrate on what matters most, which is, running the business. The services include, but are not limited to:
- Day to day postings
- Debtor collection
- Supplier payments
- Maintenance of bank accounts
- Personnell Outsourcing
- Preparation of monthly/quarterly/annual management accounts
- Preparation of Financial Statements for auditors' review
- Preparation of Consolidated Financial Statements
- Accounting Advisory
We can also assist companies with the following services:
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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 files within the MFSA and the Central Bank of Malta (CBM) portals.
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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.
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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 organisation.
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.
BDO Malta 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.
The complexity and the length of the whole liquidation can be stressful at times. We can assist companies throughout the whole liquidation process as we are capable to provide various services such as:
- Preparation of the company to be placed into liquidation
- Appointing a liquidator and a scheme auditor
- Preparation and filing of liquidation forms
- Preparation of audited financials as at date of liquidation
- Assistance with closure of bank account
- In cases when liquidation process takes longer than a year, we will assist with the preparation of further forms to be filed with the MBR
- Preparation of scheme of distribution