In order to achieve your objectives as a business, focusing on detailed and accurate financial reporting can be a clear path to success. By developing a reporting framework that is tailored to your company, you can set the wheels in motion for positive changes throughout the business.
This is because getting the finances in order and reporting accurately and efficiently on the key areas is crucial to keeping everything functioning right now and paves the way for any changes in the future.
Here at RSM Malta, our financial reporting specialists are skilled in breaking down what our clients need to do in order to succeed. From large companies to SMEs, there are ways and means for businesses of every size to benefit from accessible reporting methods.
Our financial reporting services
Our expert team is actively involved in providing advice regarding any technical matter, providing financial reporting solutions through a range of services. Our areas of expertise include the following:
IFRS application and interpretation
We take a strategic approach to the IFRS application, ensuring that you understand what this entails. This is also an opportunity to address any significant accounting issues within your company early and avoid any unwanted surprises later down the line.
GAPSME local accountancy framework application and interpretation
General Accounting Principles for Small and Medium-Sized Entities (GAPSME) is a relatively new financial reporting framework that is designed for qualifying SMEs. Since GAPSME was introduced in 2015, RSM Malta has provided a key service in talking clients through the application process, helping business owners to navigate the technical accounting aspects that are required of them.
Companies Act application
There are statutory obligations that companies must abide by under the Companies Act. These obligations mean that every company must keep the correct accounting records for:
- All sums of money received and spent, including all receipts and expenditure information
- Its assets and liabilities
Also, if the company’s business involves dealing in goods, further statements and records including stocks held by the company at the end of each accounting period must be provided.
Our financial reporting specialists are well versed in the intricacies and expectations of the Companies Act and will be able to assist to make sure your business is compliant.
Preparation of financial statements
Gathering the paperwork together detailing a business’ finances can be a complex and time-consuming task. At RSM, our expert team is skilled in gathering the required information and, if necessary, creating a system that can be beneficial for financial reporting in the future.
Adequacy of disclosure
When addressing disclosures in the audit of financial statements, the RSM team provides a detailed, thorough, and accurate service. We ensure we attach every disclosure necessary in order to safeguard your business and fully explain your company’s financial results.
To find out more about the full range of financial reporting services that we provide here at RSM Malta, please do not hesitate to get in touch with our team. You can ask us any questions via our contact email or, if you would prefer, you can call us and we will be happy to help.