1. Accounting services
Accounting and bookkeepingAK Store adapts its accounting and bookkeeping services to the business needs of each client, respecting his needs, requirements that vary and change from client to client. We strive to establish strong and sincere relationships with our clients, so that the cooperation is long-term and successful.
The AK Store team of accountants is trained and highly qualified in the following areas of service provision:
Bookkeeping of company transactions, which includes keeping records of daily financial transactions, sales, purchases, keeping nominal books and bank settlements. The accuracy and correctness of these records is part of good business management, which significantly affects the validity and accuracy of financial statements.
Invoice management is crucial for efficient business that requires fast payments. Our team will process invoice documentation, check and verify incoming invoices, approve payments, properly book and archive so that they will be easily accesible in the future. We will check the correctness and compliance with the laws and outgoing invoices that you issue for your clients. This service will make your business easier and alow you to concentrate on other segments of your company’s work.
Budget preparation and assessment of the company
In order for the goals of your business to be successfully realized and to avoid all possible mistakes in financial business, our team will analyze the company’s incoming and outgoing cash flows, analyze the costs and available funds, assess the efficiency of asset management.
All our advice and suggestions will be solely in the interest of your success.
Annual preparation of financial statements
A successful, accurate and above all accurate annual report requires a process of collecting accounting information, as well as a record of all financial activities of the company. The information necessary for a successful annual financial report is presented in a structured form and usually includes the following:
- Balance sheet, which shows the assets and liabilities of the company
- Income statement, which represents the ratio of income and expenses of the company
- Cash flow statement showing how changes in balance sheet accounts affect cash and cash equivalents
Every financial report requires discussion, proper business analysis, which is the basis for proper business planning in the future.
2. Transfer Prices
Preparation of a Study on transfer pricing
We can freely say that transfer prices are at the top of all tax and financial issues today. Our team in Serbia provides transfer pricing services for taxpayers in Serbia and transactions with their related parties abroad and other legal entities.
The Rulebook on Transfer Prices, which is applied according to the “arm’s length” principle when determining the price of transactions between related parties, regulates in more detail the form and content of transfer pricing documentation, choice and manner of applying the “arm’s length” method when determining the price of transactions persons, as well as the manner of determining the basis for the calculation of depreciation of fixed assets acquired from transactions with related parties, in accordance with the law.
Ak Store will do a case study for you, through the analysis of a group of related parties, business analysis and functional analysis of transactions in order to choose an adequate method for checking the compliance of transfer prices with prices determined on the principle of ” arm’s length”. Also, we will make an overview of the factors that have an impact on determining the price and risks that arise in connection with doing business in the client’s business in order to arrive at an economic analysis or determination of transfer pricing. The OECD guidelines define the nature of transactions between related parties, ie. indicate how to analyze whether the nature of the transactions tested is in line with the “arm’s length” principle. Finally, we will present a summary of the effects of transfer pricing. In the process of tax audit, we will explain the course of the study.
Tax strategy and planning are one of the most important parts of business planning, both at the international level and at the level of individual countries.
AK Store applies knowledge in the field of tax system to a specific activity of the company with the aim of planning obligations, whether it is Ad hoc or permanent planning.
We have extensive experience in the field of tax consulting for all types of activities and we are constantly improving in this area, following the rapid and frequent changes in the law.
Taxes and avoidance of double taxation
AK Store strives to help its customers comply with the regulations regarding Value Added Tax, Income Tax, Withholding Tax and other taxes. Also, we design strategies for avoiding mistakes and monitoring taxes very efficiently.
In accordance with Double Taxation Agreements, we advise our clients to pay the tax on certain transactions at a lower agreed tax rate between the two countries.
4. Cash Flow
Cash flow is one of the key mechanisms in the work of any company.
Without this report, the company would not be able to function.
The Cash Flow Statement is a statutory financial report that provides information on cash inflows and outflows based on business, investment and financing activities over a period of time. The methodology for compiling this report is performed in accordance with IAS 7.
AK Store provides its customers with this report at any time for the desired period so that the company can assess whether it has cash available to meet its obligations. This report is of great importance for the needs of finance, controlling, planning, management and analysis.
In the cash flow report, we will analyze the level of business activities, sources of financing and plan investments, so that it is crucial for the business of a company.
5. Advisory services
Every company, whether local or even global, has its own characteristics and complexity of certain needs.
AK Store expert advisory team offers multi-qualified solutions for all your business obligations and problems. We offer a range of our services in complex segments of modern business: internal audit services and special investigations of business compliance. We are a team of certified experienced professionals who are constantly improving by following new standards.
We will be prepared to establish, together with you, an internal audit department, to jointly set risk management frameworks, respecting a focused audit methodology and reducing costs. By properly assessing the company’s market position, conducting an internal review of its strengths and weaknesses, our team will develop a plan and future scenarios and develop an adaptive strategy to make the company’s business competitive in the market.
Through financial consulting, we provide efficient solutions to companies that compete with the competition, both locally and internationally. We offer business plans and feasibility studies, business restructuring, cumulation of finances, as well as presentative valuations.
We take special care and perform a reliable financial analysis, in order to facilitate decisions for our clients. We will point out the discovered values, point out the problems and identify the risks.
Our structured approach allows our clients to easily and simply move from the currently primary accounting standard to IFRS. The transition to IFRS is a complex project that involves the entire organization in various ways. We will help you design a conversion project tailored to your company, managing the entire process, from the planning phase to full implementation.
For this project and this service to be successful, a readiness assessment must be done, a reporting system established, assistance in change as well as work in this system.
An independent business review, as well as a case analysis for stumbled companies, the team offers us through a range of its services.
Company restructuring services will be provided by our team in the scope of designing and redesigning the legal and organizational structure, harmonizing them with the business, goals and needs of our client. We will strive to introduce agility, improving the tax efficiency of the company.
6. Internal Audit
AK Store specializes in performing internal audit in accordance with IAS and reporting under MSFI.
The members of our audit staff are highly qualified, with rich experience who, with their systematic approach, enable the client to increase the value of the business and produce positive effects for the company. We perform a risk-based audit to ensure that our assignment has the greatest possible value, both for our client and for a third party that relies on the final report leading to the ability to properly assess and make the right decisions. This risk-based audit methodology focuses on the risks inherent in the work performed by the client. As a result of our audit, we provide an opinion that is relevant and insightful. All our actions, suggestions and opinions provide clarity, bringing value and trust in the interest of the client.
International Financial Reporting Standards have created an essential condition for quality financial reporting.
A certain level in financial reporting contributes to attracting investments and improving the economy. External financial reporting is a very important segment of the company’s accounting information system.
In addition to regular financial statements, AK Store prepares a series of internal reports, tailored to the needs of the client to meet the client’s expectations for making economic decisions. We prepare these types of reports on a weekly, monthly or quarterly basis, depending on the needs of the company and the type of activity in which the company is engaged.
The importance of internal reports is seen through the cost-benefit ratio, developing techniques for evaluating parts and the whole of the company, establishing management control, motivating managers to achieve goals.
Internal reports, prepared in accordance with the needs of your organizational structure, made for a certain period, will give you an insight into the economic situation of your company.