Conpak CPA Limited > Accounting

Accounting

While appropriate expenditure records can provide a base for calculating corporate tax financial statements in compliance with accounting standards and professional analysis,made based on relevant information also help to improve business management and profitability.Accounting services provided by Conpak can ensure your esteemed company compliance with the statutory requirements, which will save you time and efforts.

Advantages of Our Service

  • Build up an advanced and suitable accounting system for enterprise to check, analyze and control the accounts
  • Clear accounting information, easy for enterprise to know its profitability and make tax plans as well as all kinds of business strategy
  • Some countries require local companies to keep accounting records, thus it is essential to know local laws and its requirements for maintaining company operations through professional advisers before making investment decisions

Our Services Include

  • Bookkeeping services
  • Establishment of accounting system
  • Compilation of financial statements
  • Inventory management
  • Cost controls
  • Establishment of internal accounting checking systems
  • Assessment of accounting policies

Take Hong Kong Company as an Example

Some investors do not have a full understanding of the accounting system in Hong Kong while the legal system of clientss’ countries might be different if that of Hong Kong.If the accounting standards used by the client do not meet the statutory standards of Hong Kong, it may lead to financial loss or even litigation.

According to the laws in Hong Kong, a company operated in Hong Kong, no matter if it is a limited company or unlimited company, should keep proper records of its incomes and expenses, so as to determine its assessable profit. If client entrusts a professional accounting company with bookkeeping work, it can not only help them save costs but also obtain financial statements in compliance with accounting standards. At the same time, clients are beneficial by enhanced standard of corporate management and profitability through the analysis and recommendations of professionals based on related data.

In addition, the company also needs to keep business records, according to the provisions of Section 51C of the Inland Revenue Ordinance:

  • Companies doing business in certain fields or professions in Hong Kong should keep proper records of its incomes and expenses in Chinese or English, so as to determine its assessable profit.
  • Such records should be retained for at least 7 years.
  • Those who fail to comply with the Inland Revenue Ordinance without valid reason will be fined.
  • The records of the Inland Revenue Ordinance which need to be listed include account books recording revenue and payment, vouchers, bank statements, invoices, receipts; assets and liabilities records; holding business inventory records of the day until the year ends, etc.