The services within this area are:
The general services of accounting consist in keeping the client's accounting, this means, compile all the information and all the documents, code and input, issue financial statements and relate analytic accounts, figure out taxes, fill in tax-reports and make reports, observations and recommendations.
Within the input services, our work consists in only processing the policies that have already been codified by the company and in issuing financial statements with their correspondent supporting schedules.
Within the performance services we:
- Carry out all or only part of the company's accounting
- Prepare financial statements
- Analyze and interpret financial statements
Within the consulting services we:
- Supervise the general accounting
- Supervise the cost accounting
- Design and implement de accounting and/or cost systems
ANALYZE FINANCIAL STATEMENTS
Our work consists in analyzing the general balance and the correspondent statements of earnings, of the shareholders investments and of the cash flow according to the audit standards generally accepted, including any verification of books and of accounting records, and other audit procedures that are considered necessary to express an opinion in the financial statements.
Our analysis includes the study and evaluation of the internal controls that the company has, this is done with the aim of determining the nature, extent and opportunity that will be given to the audit procedures to be applied.
An efficient system of internal control reduces the risk of making mistakes or the existence of irregularities. It also helps to detect any of them. Although we cannot completely assure that those mistakes or irregularities will be detected by us, our analysis is designed to try to detect those mistakes or irregularities that could have an important effect in the financial statements.
Aún cuando no puede existir la seguridad de que dichos errores o irregularidades serán detectados por nosotros, nuestro examen está diseñado para intentar detectar aquellos errores o irregularidades que pudieran tener un efecto importante en los estados financieros.
Any mistake or irregularity detected, is reported to the appropriate level of the Company's Management or, if the case may be, to the Management Council.
As a result of this service a report on the financial statements is issued.
MEMORANDUM OF SUGGESTIONS
From the result of the analysis made to the internal controls and to the accounting procedures, as well as any other business or fiscal issues observed during the audit, we will prepare a memorandum of suggestions, with the purpose of improving those controls and procedures.
This memorandum is our main element of the service that we provide to our clients, due to the fact that it allows that the audit cost is paid by itself, once the problems are detected and corrected, because it increases the operative efficiency of the company.
SPECIAL REPORT FOR FISCAL EFFECTS
As a result of the financial statements analysis, we are able to prepare a special report for the Ministry of Finance. This report includes comparative financial statements, some complementary exhibits, some comments about the fiscal situation and a complete analysis of the federal taxes that are in charge of the company and in its nature of withholding agent.
SPECIAL REPORT FOR SOCIAL SECURITY (Instituto Mexicano de Seguro Social) EFFECTS
In addition, we have developed a division which is in charge of issuing a report about the worker-employer payment of the Social Security (IMSS), according to the manual issued by the correspondent authority.
SPECIAL REPORT ABOUT THE PAYMENTS REGULATED BY THE FINANCIAL CODE OF MEXICO CITY
We provide an opinion on the payments regulated by the Financial Code of Mexico City according to the provisions established by the own Code.
PROJECTS TO IMPROVE PRODUCTIVITY
It consists in the evaluation of the operative effectively of one or more functions in the company, with the aim of identifying potential opportunities to improve the productivity and to reduce costs.
We count with two kinds of analysis:
- Operative: It consists in acquiring a general knowledge of the company and in understanding the client's business through analyzing the financial, administrative and operative information given by you.
- Functional: It consists in analyzing a specific function or department. This analysis is made basically in order to examine the existent operations and to make recommendations in order to make some changes.
SERVICES OF FISCAL CONSULTING
Several sources give origin to the services of this division. one of them is the direct consulting formulated by you, about topics that you want to investigate or to go deeper into them, in order to improve your fiscal situation. Other source comes from the audit made to the financial statements, where personnel with experience in the Tax Division takes part in it, allowing us to detect issues in the fiscal planning that will help the company, or through an analysis of the fiscal structure with the aim of making suggestions that will improve the fiscal situation of the company within a legally permitted frame.
Other services that are given are: the preparation or analysis of the annual income tax-report, the annual value added tax-report, special tax on production and services annual report, the tax on assets annual report and the tax on new cars annual report.
We also offer the development or analysis of provisional payments of said taxes and the estimation of special reconciliation entries between the fiscal and accounting results of the company. The teaching of some fiscal courses is provided too.
The tax mechanism about Transfer Prices allow the tax authorities to verify that the operations celebrated between related entities were made according to the economic, commercial and fiscal reality, so the proper taxes are paid in the proper territories, avoiding that through these operations the related entities reduce the amount of taxes that should be paid in México.
The transfer Prices in a global view, allow the participating governments to check that the price of the goods, services, interest rates and other similar operations are the appropriate ones in the global and domestic markets and in the case that they are different, these differences are reasonable or with the enough elements to avoid, regulated or sanction the harmful effect in the compliance of the fiscal obligations of the companies
Our fees are based on the number of hours required to carry out each stage of the work, at the same time, these hours are fixed individually depending on the capacity and experience of the assigned staff.
When we prepare the estimation of our fees we have a close collaboration with the client's staff so they prepare us some analyses and other working papers that are needed.
The Firm has as a policy only to invoice the actual hours worked, this means, if we work less hours than the estimated, we will invoice only the hours that we actually worked. On the contrary, if we observe that we will have to work more hours than the estimated, we will ask for the client's authorization before working extra time.
The estimate of fees above mentioned is prepared on the basis of our normal invoicing rates, which are going to be in force during the time we spend working.
Likewise, in some cases, we will add to our fees the actual expenses incurred, such as: transport, lodging and food, in case these are not met by the client
In case the Fiscal General Management (Administración General de Fiscalización), or any other Fiscal authority or an interested third party, would want to review our work, the fees for our participation in said review will be based on the time devoted, estimating it according to our existent rates of invoicing and will be invoiced to you, as we incurred into them.
It is important to point out that the services described before, can be granted in the companies all together or separately, taking into account the specific needs of each Company.