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Accounting Services

IND AS Applications

India has now finally opened a new chapter in its accounting reforms initiative with the formal notification of Indian Accounting Standards (Ind-AS) issued by the Ministry of Corporate Affairs (MCA) on 20 February 2015. Nearly 39 new accounting standards have been notified bringing them in convergence with the globally recognised International Financial Reporting Standards (IFRS). Even though most of Ind-AS are very close to IASB IFRS, there are few areas where MCA has carve-outs from principles laid down in IASB IFRS. Some of the important carve outs are in the areas relating to straight lining of lease rentals due to inflation, accounting for foreign currency convertible bonds, use of Indian GAAP carrying values of fixed assets and treatment of exchange differences on long term foreign currency borrowings.

Accounts Preparation and Maintanence

Das & Prasad offers back office management services such as accounting and payroll processing to entities that have set up businesses in India. It encompasses design, implementation and review of accounting manuals, advice on various accounting issues including those related to Indian GAAPs, international GAAPs and US GAAPs. In addition, the firm also provides other related services such as payment uploading, etc.

Preparation of policies & standard operating procedures

Standard Operating Procedures (SOPs) is a mandatory component of any business model. SOPs act as the process book that describes a set of procedures and protocols for a particular action. Standard Operating Procedures describe how processes execute as well as detailing the roles and resources that are involved in a particular process. At Das & Prasad, we take care of SOP development by creating it, reviewing it and periodically updating the SOPs.

Preparation of Business Plan

Business consulting in its purest sense is the ability to magnetize a business owner, entrepreneur, professional, mature or startup business to areas of critical performance based on meaningful, experienced, and documented understanding of the issue. Those critical areas can be marketing strategy, competitive advantage, business model, any of the 9 drivers that I talk about, leverage, etc. It’s not a theoretical process and it’s not only understanding the macro problem but also the nuances.

Preparation of Cost Accounting Records

In a highly competitive market, service providers are continually looking for ways to manage their costs and increase productivity. Although cost accounting was originally developed for the manufacturing industry, it has proven useful in the service industry as well. Cost accounting provides an accurate picture of the connection between specific costs and specific outputs because it traces resources as they move through the company. By adopting cost accounting for your service business, you can learn where resources are being wasted and which resources are most profitable.Our team of audit consists of skilled individuals and chartered accountants trained extensively for conducting cost audit and related accounting records.

FA Register preparation and Physical Verification

A Fixed Asset Register (FAR) is an accounting method used for major assets of an organisation. It also keeps track of the correct value of assets, which allows for computation of depreciation and for tax and insurance purposes.Our team of audit consists of skilled individuals and chartered accountants trained extensively for preparation of FA register for the effective use of the organisation.