No business is set up to incur losses. Active directors that view management accounts as a financial dashboard of their company are always interested in keeping updated on the performance and position of their business. At one glance, they need to know whether they have enough cash to fund their operation, and whether their company is incurring too much debts.
Due to the requirements from the director, the accounts can be prepared monthly, quarterly or yearly. We can assist to generate the management accounts as listed below in many different ways:
|Scenario||Company A has just operated their business for less than a year. They had engaged a freelance bookkeeper who handles their accounting needs annually. Company A wanted to know more about the performance of their business but the freelance bookkeeper is unable to provide them useful insight.|
|YTK Action||Company A approached our firm and showed us their management accounts. They wanted more insights about the performance of the company so as to make decision to improve the business. We interpreted the accounts and pointed out the critical areas that the management should focus on.
Since then, we not only took over as their accounting agent because of the insights that we gave them but also provided them with the accounts on a monthly basis so that they can easily keep track of the performance of their business.
|Benefits to Client||The client is able to know the performance of the company and make changes to their pricing of their goods to keep pace with the mass market.|
All employees in Malaysia should be given a pay slip. In addition, EPF has to be contributed for and by Malaysian citizens and Malaysian Permanent Residents.
|Scenario||A foreign company employs Malaysia citizens to carry out work in Malaysia. They are unaware of the Malaysia labor law and payroll obligation.|
|YTK Action||We took over as their payroll agent and processed their payroll monthly. We also informed them when there were any adjustments in the contribution rate.|
|Benefits to Client||The client save time in processing the payroll and is able to stay focused on their core business.|
YTK Management Consultants Pte Ltd
10 Jalan Besar, #12-02 Sim Lim Tower,