Today, here at Asterisk Corporate Services, we are proud to present you with our new bespoke solution – preparation of custom Accounting Policies and Procedures Manual.
We identified the need for this service as there are a lot of medium to large organizations growing rapidly, especially in the Crypto and Tech sectors which are in desperate need to streamline their accounting department(s) and ensure efficiencies across the board.
It is of significant importance for an organization to ensure efficiencies and that the Accounting Department is working well, as if not, there are a lot of bad things which can happen, such as loss of funds, fraud, non-compliance with regulations, difficulty in onboarding new employees etc.
In that respect, our Accounting & IFRS (International Financial Reporting Standards) experts are in place to assist you in drafting a tailormade, bespoke Accounting policies manual, which will greatly assist you in streamlining your procedures, ensure compliance with regulatory requirements, establish and maintain internal controls and others.
Our manuals cover all aspects of accounting, including accounts payable, accounts receivable, general ledger, and financial reporting. Our team stays up-to-date with the latest accounting standards and regulations, ensuring that your manual will always be compliant.
Our manuals are also designed to be user-friendly and easy to understand, so that even non-accountants can follow the procedures outlined. This makes training and onboarding new staff much smoother and less time-consuming.
Its worth noting that we do offer this service not only to Cyprus Companies, but globally, as long as your entity is using IFRS for its reporting requirements.
To proceed with please see below some examples on why its good to have an accounting policies manual, as well as what benefits it can bring in your organization:
Why your organization need an Accounting Policies Manual:
- To ensure compliance with industry standards and regulations such as IFRS;
- To improve accuracy and efficiency in your accounting operations and reduce errors;
- To standardize and ensure consistency in accounting practices;
- To establish and maintain proper internal controls;
- To provide clear guidelines for accounting staff and facilitate better communication and training.
Benefits from having an accounting policies and procedures manual
As businesses navigate in todays challenging and everchanging environment, which is full of constant changes and regulatory requirements, your accounting department plays a significant role in ensuring smooth operations, reducing costs and avoiding unpleasant surprises. Having a comprehensive accounting policies and procedures manual in place can make all the difference in ensuring that your accounting processes are efficient, compliant, and effective. Here’s why you need one:
- Streamlined processes: A manual lays out clear procedures for day-to-day accounting tasks, making it easier for your accounting team to complete their work with fewer errors and less time wasted.
- Improved efficiency: By having a standardized set of procedures in place, your accounting department can focus on high-value tasks instead of trying to figure out how to complete routine tasks.
- Compliance with accounting standards: Keeping up with the latest accounting standards and regulations can be challenging, but our manuals ensure that you’re always in compliance with the IFRS.
- Easy onboarding of new staff: A comprehensive manual makes it easier for new staff to get up to speed, reducing the time and resources needed for training.
- Peace of mind: Knowing that your business is following best practices and is in compliance with industry standards can provide peace of mind and reduce the risk of errors or non-compliance issues.
- Reduce costs: Ensuring efficiencies and correct controls can help reduce costs and increase profitability.
“Invest in a custom accounting policies and procedures manual today, and experience the benefits of a streamlined and compliant accounting process.”