FINANCIAL CONSULTATION

Many clients engage us for accounting, audit and tax work and come back to seek our advice about a wide range of business concerns such as the restructuring of their business, refinancing borrowings, advising on mergers and on the acquisition and sale of businesses, and computer selection.

AL-ANOUTI advise and assist solicitors and barristers in assessing the accounting and financial aspects of their cases. This often leads to frequent consultations with legal advisors who require our firm to prepare briefing notes and reports for tendering in court.

Our management advisory services include corporate and personal financial planning, cash flow management, organization chart and, job descriptions, systems evaluation, flow of documentation, budgeting and forecasting, business valuations, feasibility studies and due diligence, the valuation of shares, the development and implementation of a negotiating strategy to maximize the financial return for our client in many situations.

AL-ANOUTI is creative business advisors. We listen to our clients' concerns, learn about their businesses, and give them the answers they need in order to make sound business decisions.

 

Our Consultancy includes:

• Advice on the appropriateness of policies in particular business circumstances, including acting as arbitrator or an expert witness.
• Implementation, follow-up and review of financial accounting.
• Advice on the valuation of interest in business.
• Participation in setting up accounts through the design and follow-up of the cost accounting system, the implementation of accounting plans and the preparation of periodical financial positions, balance sheets and income statements.
• Financing, including advice on sources of finance, assistance with preparation of budgets, cost analysis, margins, profitability, negotiation of finance.
• Preparation of reports for investment banks and financial institutions.
• Business expansion advice.
• Assistance in preparing management reporting, budgetary control and advice on methods to improve profit or reduce costs, particularly in the financial areas.
• Advice on the evaluation and selection of microcomputer systems and related software, and their installation.

ACCOUNTING

As an owner you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits!

Each month or quarter we'll do the following things for you...

• Reconcile your bank account
• Generate an income statement 
• Generate a balance sheet
• Clean up your general ledger
• Provide unlimited consultations

These tasks form the solid foundation of your accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services.

 
Bank Reconciliation

Reconciling your business checking account each month allow us to keep your bank account, accounting, and taxes up-to-date.

Having us reconcile your account each month allows you to...

• Identify lost checks, lost deposits and unauthorized wire transactions.
   
• Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.
   
• Detect and prevent embezzlement of funds from within your company.
   
• Know how your business is doing? You can't really know unless all accounts are reconciled and properly accounted for on your financial statement.
   
• Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.
   
• Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank. This reason to reconcile alone should be enough. Crime exists.
   
• Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds are properly accounted for.

 
Income Statement

An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period.

An income statement allows you to...

• Track revenues and expenses so that you can determine the operating performance of your business.
   
• Determine what areas of your business is over-budget or under-budget.
   
• Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
   
• Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
   
• Determine your income tax liability.

 
Balance Sheet

A balance sheet gives you a snapshot of your business' financial condition at a specific moment in time.

A balance sheet helps you...

• Quickly get a handle on the financial strength and capabilities of your business.
   
• Identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables cycle is lengthening, maybe you can collect your receivables more aggressively.
   
• Determine if your business is in a position to expand.
   
• Determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses? 
   
• Determine if you need to take immediate steps to bolster cash reserves?
   
• Determine if your business has been slowing down payables to forestall an inevitable cash shortage?

Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.

 
Maintaining a Clean General Ledger

The general ledger is the core of your company's financial records. These records constitute the central "books" of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.

Having us review your general ledger system each month allows us to hunt down any discrepancies such as double billings or any unrecorded payments. Then we'll fix the discrepancies so your books are always accurate and kept in tip top shape.

 
Unlimited Consultations

We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. Our consultations are already included in our price, so please feel free to call us whenever you have a question or concern.

PAYROLL

When it comes to paying employees, laws have made the payroll function a time consuming nightmare for the small business owner.

Small business owners spend an average of daily work to three daily works in month performing payroll functions. That could be spent generating sales, prospecting new business opportunities, improving products or services, or servicing customers.

We offer payroll solutions that meet your business's needs and enable you to spend time doing what you do best--running your company.

Why Outsource Your Payroll...

• Its Cost Effective
  Use your staff more efficiently by letting us handle payroll and the associated legal details. Reduce overhead by removing the need to hire specialized employees.
   
• It's a Time Saver
  our payroll service eliminates the burden of customizing, updating and maintaining your own payroll system--no more data entry, no more researching updates or new laws, no more worries.
   
• Worry Free Payroll Tax & Social Security Filing
  Eliminate the risks of calculating and filing your own payroll tax & social securities by having professionals do it for you. Local payroll tax & social security laws are frequently changing and becoming more complex.  How much time do you want to spend learning all the rules and keeping your information up to date?
   
• Allows You To Focus On Core Competencies
  our professional staff allows you to focus on the core competencies of your business. We are accounting professionals--you get the experts working for you and with you.
   
• Comprehensive Reports
  you get a wide variety of user-friendly and accurate payroll reports. For a nominal fee, we will include union reports, certified payroll, workers' compensation reports and much more.

 
Get the Payroll Solution That Best Fits Your Needs.
We know that when it comes to payroll service .That why we offer comprehensive Payroll Services takes care of the entire payroll processing for you, so that you won't have to. You get...

• Your payroll checks prepared and written on-time, every-time.
• Free Direct Deposits
• Worry free tax & social security reporting as well as tax & social security deposits.
• User friendly, and easy to understand monthly, quarterly, and annual payroll tax & social security reports, including R-10, R-5, R-6, R-8 and the social security forms.
• Detailed reports on your employee's vacation, sick days, and personal day's accruals.
• Creation and filing of the required new hire reports
• Your payroll records maintained in tip top shape.

How much do we charge?
In order to give you an accurate price for our payroll services we need to know a little more about your business and what services you're interested in. Our prices are very affordable.

AL-ANOUTI also assists clients in planning the efficient use of human resources and the placement of senior executives. We provide a discreet, independent service in search and selection, remuneration planning, organizational review and human resource planning.

Our assessment of client executive requirements is based on the organization's background, structure, operations and objectives. It is by adopting this professional approach that we are able to select the candidate with the most appropriate qualifications and the most relevant management skills.

Our recommendations are made only after conducting a thorough and totally competent research.

CASH FLOW MANAGEMENT

A wise business owner once said, "Happiness is a positive cash flow." As a business owner, I'm sure you agree. Everything is better when your cash-in exceeds your cash-out.

A cash crisis can be emotionally devastating and it can even kill your business. If you've ever had to beg, borrow and steal to cover tomorrow's payroll you know what I mean.

Our cash management service allows you to...

• Know when, where, and how your cash needs will occur.
• Know what the best sources are for meeting your additional cash needs.
• Be prepared to meet these needs when they occur, by keeping good relationships with bankers and other creditors.

The starting point for avoiding a cash crisis is allowing us to develop a cash flow projection for you. We can help you develop both short-term (weekly, monthly) cash flow projections to help you manage daily cash, and long-term (annual, 3-5 year) cash flow projections to help you develop the necessary capital strategy to meet your business needs.

We also prepare historical cash flow statements to help you gain an understanding about where all the money went.

Creating an accurate cash flow projection is just one of the many cash management services we provide. You also get...

• Help obtaining an appropriate line of credit
• Cash collection acceleration techniques
• Proven effective collection policies
• Proven effective payment policies
• Help obtaining the maximum rate of return on your idle cash

INTERNAL CONTROLS

At times you may need a trained outside professional to evaluate your company's operations to determine if the appropriate controls are in place to ensure proper handling of resources and to protect yourself from employee theft.

We assess your internal control systems to determine the efficiency and effectiveness of your operating procedures. Then we make recommendations that help your company become stronger and more profitable by correcting any inefficient or ineffective operating procedures we find.

What we do for you...

• Implement segregation of duties so that duties are divided, or segregated, among different people to reduce risk of error or inappropriate actions. No one person has control over all aspects of any financial transaction.
   
• Make sure transactions are authorized by a person delegated approval authority when the transactions are consistent with policy and funds are available.
   
• Ensure records are routinely reviewed and reconciled, by someone other than the preparer or transactor, to determine that transactions have been properly processed.
   
• Make certain that equipment, inventories, cash and other property are secured physically, counted periodically, and compared with item descriptions shown on control records.
   
• Provide employees with appropriate training and guidance to ensure they have the knowledge necessary to carry out their job duties, are provided with an appropriate level of direction and supervision, and are aware of the proper channels for reporting suspected improprieties.
   
• Document policies and procedures and making them accessible to employees. The documented policies and procedures provide day-to-day guidance to your staff and continuation of duties in the event of prolonged employee absences or turnover.
   
• Review operations to ascertain whether results are consistent with established objectives and goals and whether the operations are being carried out as planned.

NON-PROFIT ORGANIZATIONS

We can help you setup and maintain your non-profit organization's tax-exempt status by handling all the reporting for you.

Each year requires most tax-exempt organizations to submit the Forms and its relations, which includes the following items.

•  Income Statement with very specific revenue and expense categories like donations, salaries, postage, rent...

•  Balance Sheet with specific categories like cash, accounts receivable, accounts payable...

•  Functional Expense Statement with all the expenses allocated to program services, fundraising, or operations.

•  Individual Program Expense Statement that reports all of the expenses for each program or service like seminar programs or educational mailings.

•  Revenue Support Schedules that detail the organization's sources of income in specific categories like charitable donations, membership fees, investment income.

We use these very specific revenue and expense classifications to determine if your organization will retain its tax-exempt status. So it's imperative that you build your accounting system around these revenue and expense classifications.

Here's what we do for you...

• Review and compile your financial statements
• Design, install, and maintain your Accounting System
• Weekly, bi-weekly, or monthly payroll preparation
• Payroll Tax Preparation and Deposits
• Provide training for your accounting personnel
• Complete and file your non-profit status application
• Provide training for your board on non-profit financial statement usage and effective budgeting practices

Prepare and file the tax forms

AUDITING

Our firm has the expertise and resources to carry out statutory audits for a large range of clients.

Consistent with AL-ANOUTI philosophy of quality service, our audits are more than just statutory audits. We have a broad practical knowledge of auditing, both on a local and international scale. Our aim is to conduct every audit with maximum efficiency and so provide clients with genuine solutions to problems that may arise.

Our audit staff is trained to identify and discuss with the client, potential problems or areas where the client could derive significant benefits. It is this attention to detail that distinguishes AL-ANOUTI from many other accounting firms.

Whilst it is necessary for auditors to maintain an appropriate level of independence, we encourage our staff to develop a relationship of mutual respect and understanding with senior management within the organization we are auditing. To benefit the client we endeavor to have the same staff particularly at senior level, on an audit from year to year, to improve efficiency.

At AL-ANOUTI we can assist clients in setting up the optimum business structure by establishing workable accounting systems and advising on reporting systems and the preparation of periodic or annual accounting.

Our audit approach can be illustrated as follows:

• Business Review
• Evaluate Risk and Review Internal Controls
• Determine Audit Strategy
• Assess Control Effectiveness
• Develop and Implement Testing Plan
• Evaluate Results and Review Financial Statements
• Audit Report on the Financial Statements

Audit Reports to the Board and Management.

INTERNAL AUDITING

In addition, we strive to establish ourselves as one of the client's key advisers in the decision making process.

To reach this goal, our approach involves:

At the audit team level:

• Possessing specialized experience in all economic, financial and industrial sectors.
• Getting full understanding of the nature of the business activity and its financial and accounting characteristics.
• Working in close collaboration with client staff to maximize the effectiveness of work.
• Establishing strong quality control and close involvement of assigned partners and managers at all stages.

At the audit process level:

• Elaborating careful planning to ensure the scope is responsive to procedures and controls in operations.
• Identifying the techniques, procedures and measures necessary to achieve the objectives of internal control.
• Identifying the procedural weaknesses for management's attention.
• Keeping up regular meetings with client management to consider problems.

Audit Consulting

In addition to financial audits, we also provide audit consulting services, including:

• Financial investigations in accordance with due diligence procedures for transactions involving mergers, acquisitions, joint ventures or partnerships' understandings.
• Operational audits of internal control structure such as assistance in setting up accounting systems for new or expanding businesses.
• Acquisitions and disposals supports consisting of in-depth reviews of specific businesses, purchase investigation or audit of an intended acquisition.
• Company valuations.
• Implementation of consolidation processes, including the different aspects relating to the definition of reporting group, to the choice of accounting principles and to the implementation of reporting procedures from affiliates to their holding.
• Acting as liquidators of companies appointed by partners in voluntary liquidation or courts in compulsory liquidation and handling of any subsequent related matters.

Assistance in assessing the effectiveness and structure of internal audit departments, and training of internal auditors in relevant techniques including computer auditing.

TAX & SOCIAL SECURITY CONSULTATION

We provide a wide range of tax & social security services to companies, partnerships, individuals and trusts. These are available not only to clients who use our auditing and accounting services, but to any business enterprise or individual requiring specialized tax & social security advice. The services provided fall broadly under two headings:

• Assistance to clients in meeting their tax & social security compliance obligations.
• The provision of specialized tax & social security planning advice which aims to ensure that clients' businesses and financial affairs are arranged in an orderly manner with proper regard to the incidence of tax & social security.

These services encompass a number of areas which include the following:

Companies, compliance:

• Preparation of companies' tax & social security computations for submission to the local tax & social security authorities.
• Advice regarding appeals against tax & social security assessments and tax & social security payments.
• Individual, partnership, and trust tax & social security compliance.
• Preparation of the appropriate tax & social security returns for submission to the tax & social security authorities and handling of any subsequent correspondence, discussions, etc., with the local tax & social security authorities in determining the tax & social security liability.

Corporate tax & social security planning:

• The structure of business operations operating through groups or divisions.
• Corporate and group reorganizations.
• Mergers and acquisitions.
• Optimizing the use of available relief and allowances.
• Planning dividend policy.
• Executive remuneration.
• Tax treatment of fringe benefits.
• Planning of overseas assignments.
• Stock options and share incentive schemes.
• International tax planning.
• International group structures.
• Profit repatriation planning by use of dividends or royalties.
• Minimizing the incidence of double tax.
• Advice on tax aspects of foreign currency fluctuations.
• Advice on double tax treaties and their effects.
• Advice on tax & social security systems in other countries.
• Advice on tax & social security structuring of corporate acquisitions overseas.
• World tax reviews and utilization of losses.

Personnel tax & social security planning, including

• Structuring personal business operations.
• Planning for business start-up e.g. partnership and other companies

Establishing offshore and holding companies in countries whose rules and regulations allow formation of such companies, handling financial, accounting and tax & social security affairs of these companies and preparing financial and other statements for tax & social security purposes.

SERVICES

Buying or selling a company is one of the most difficult decisions a business will ever make. We at Al-Anouti understand that, and we can assist you in all aspects of buying and selling a company.

Our experienced Merger and Acquisitions professionals work side-by-side with your management, legal, marketing, and human resources team. We can assist in every crucial task involved with the purchase or sale of your business, including attaining the best purchase or sale price, developing ongoing business protection, and implementing the most favorable tax & social security structure for your situation. Our network of contacts gives our professionals support expertise in other areas vital to your company, such as due diligence, tax & social security consultation, forecasting, and structuring the new business.

• Acquisition Services
  Researching Potential Acquisition Candidates, Evaluating the Offer Price, Structuring the Transaction, Performing Due Diligence Review of the Business, and Providing Advice During Negotiations.
• Divestiture Services
  Business Valuation, Locating a Buyer, and Assisting in Negotiations.
• Initial Public Offerings
  Develop Strategies, Issue Audit Reports, and Provide Expert Guidance.
• Financial Advisory Services
  Work Outs for Restructuring Companies, Recapitalization and Debt Restructuring, and New Financing.
• Valuation Services
  Valuation of Targets, Tax & social security Planning, Litigation, Restructuring and Insolvency, Purchase Accounting, and Public Company Issues.

In the fast moving world of Information Technology (IT), e-Commerce and e-Banking, it is increasingly hard for institutions to strike a balance between Information Systems (IS) risks, emerging from the new technologies adopted by businesses and IS controls. Al-Anouti Information Risk Management Group (IRM) helps and advises business managers on how to best manage the risks generated by Information Technology.

Keep it secure.

We can help managers keep their mind off IS security and focus more on running the business. Our team of professionals will audit your Information System and report back on weaknesses and recommend actions, solutions and best practices.

Keep it running.

As organizations move to an on-line environment the survival of the business depends on a well developed Business Recovery Plan (BRP). Al-Anouti can help your business develop, test and maintain a BRP for your institution. Should a disaster strike only those institutions with a working and tested BRP can survive?

Keep it organized.
Planning and development of information security manuals, job descriptions, organizational charts and other IS policies and procedures are essential controls applied by management to insure that proper operations and segregation of duties are in place.

Keep them knowledgeable.

Al-Anouti provides training services in the field of IS security and control to internal audit departments and IS security professionals.

Let us help.

Our team can provide your institution with quality IT related services like preparation of invitations to tender, IS network design and mapping, software assessment (SDLC), interview and assessment of IS recruits and many other IT related consulting services.

Our team Information Risk Management offers the following services:

• Information Systems Controls
• e-Business
• Information Systems Security Training
• Project Risk Management
• Information Security Audit and Review Services
• Business Recovery Planning Management

These are the major services that we can offer to our clients as well as a close personal relationship we develop with our clients and we pride ourselves upon.

 

Analyzing; researching; forecasting; advising; AL-ANOUTI 's consultants have the skills and the experience needed to focus on the important issues, decipher the complex ones, and help our clients to achieve results. Our services include:

• Accountability reviews
• Asset management and owners representation services
• Audit
• Branding through Franchise,
• Management or Affiliation
• Contract negotiations
• Development proposals
• Due diligence
• Evaluation
• Financial Planning and Engineering
• Management Accounting, Control and Information systems.
• Manpower planning and training
• Market and Financial Feasibility Studies
• Market Analysis and Research
• National, Regional and local tourism planning
• Operational reviews and service audits
• Operations and organizational analysis and reviews
• Optimizing land use
• Planning and design
• Planning inquiry, arbitration and legal support
• Pre lending review
• Profit improvement studies
• Project evaluation and appraisal
• Strategic Planning
• Trademark REGISTRATION
• Feasibility Study