Businesses need to have accurate accounting records as they help in informed decision making and Financial decisions. The accounting system in India is based upon Generally Accepted Accounting Principles. This system is transitioning towards International Financial Reporting Standards ( IFRS )to ensure uniformity and comparability of Financial Statements.

Under the companies Act 2013, Companies are required to prepare and file Financial statements. These statements include Balance Sheet, Profit and Loss Account and Cash Flow statement, filed annually with Registrar of Companies. These statements are audited by a qualified chartered accountant who is independent of the company.

The ICAI regulates the accounting profession in India alongside applicable tax laws and regulations. 

Overall the accounting system in India is robust and provide a framework for accurate and transparent financial reporting for firms.

The ICAI sets the accounting guidelines and standards and conducts professional development programs for accountants in India.

Accounting is an important function for any business which involves tracking financial transactions, analysing financial data and presentation of financial statements. 

Some of the benefits of accounting that a CA Firm in gurgaon can provide you are as follows :

• Time- Saving : Accounting CA Firm in Gurgaon can free up your time and you can focus on running a business, as the firm will take care of all taks including bookkeeping, Tax Filings and secreterial compliances.
• Accuracy : Accurate Financial Data is indispensable for taking informed business decisions and avoid costly mistakes.
• Strategic Planning : Accounting Function helps an organisation in making strategy, towards mergers and acquisitions, business combinations and takeovers. 
• Compliances : Accounting also helps in meeting various compliance requirements as per income tax, auditing and Financial Statements presentation.

Thus Accounting is the backbone for an organisation that acts as a base for various functions.

A CA Firm in Gurgaon can provide many benefits including expert advice, accuracy and peace of mind while handing outsourcing accounting and bookkeeping services. Accounting is a vital function.

If you are considering outsourcing bookkeeping and accounting services, our firm is a ideal match for you.

You may contact as at gaurav.dhingra@dgvassociates.com in case of any assistance.