Financial Accounting

Bookkeeping being an extended and time-consuming task is done best when it is left in the hands of the professionals.
We at MentorisCorp have a team of experts dedicated to recording your financial transactions and information on a daily basis. The bookkeeping services may include:

• general bookkeeping
• accounts reconciliation
• inventory recording 
• recording payments made to suppliers
• loan payments
• customer invoice payments
• monitoring and recording asset depreciation

We live in a data-driven age and thus using the financial insights to the best of your advantage will set you apart. It is essential to keep monetary affairs in order for your organization to thrive. Businesses frequently need reliable financial reports to gain a better grasp of current and future financial status. To be updated with any significant progress or changes in the status of your finances a data-driven finance report is very effective as it helps you measure your financial results, cash flow and financial position.

At MentorisCorp we take a proactive approach concerning the management of your company’s finances by providing financial statements weekly, monthly, quarterly and yearly to assist you in increasing long-term profitability. Our team looks into these reports periodically and prepare daily, weekly monthly & yearly financial reports.

Financial reports give the organization an analysis of how the organization has performed. Today every organization requires financial reporting services. Accurate and timely produced financial statements are an imperative aspect of your business which helps you with future growth plans and to take informed business decisions.

Our team takes pride in providing financial statements and reports on an on-going basis and tailored to the needs of each specific client. We have skilled and well trained financial services team who provide efficient financial reporting services to help you gain a perspective of where your organization stands. Our team of experts review and analyse the financial reports very often and the reports analyzed by our experts can be presented to boards of directors, investors, financial analysts and government agencies. 

At MentorisCorp we professionally prepare, present and review various financial statements which include:

• Income & Expenses Statement / Profit & Loss Account 
• Cash Flow Report
• All Accounts Reconciliation 
• Budget Reports on monthly, quarterly and annual basis
• Fixed Assets Registers
• Inventory Accounting
• Time and billing Recording
• Financial analysis like ratio analysis, working capital ratios, P/E ratio, etc
• Complete Accounting Services with Reporting Analysis

Finalization of accounts is most cumbersome and time-consuming activity unless proper measures are deployed to manage it. 

Our accounting team is highly experienced with qualified CA’s to handle financial details and arrive at the accurate profit and loss incurred with timely preparation of detailed and flawless account statements like

• Profit & Loss Account
• Balance Sheet
• Preparation of annual reports, director reports, etc

MentorisCorp provides an end to end support to its clients for completing the audit of accounts along with resolving each and every query raised by auditors to their satisfaction. With our qualified and experienced team of experts devoting their time to process audit working papers the auditors can be assured of errors free reports, no missing deadlines and ensure high-quality disclosures.

MentorisCorp’s scope of work in accounting audit support includes:

• Preparing the audit plan and creating detailed check list before the start of Audit (Pre-Audit assessment).
• Detailed scrutiny of every Accounting ledger before audit starts.
• Identifying the gap areas and providing solutions to fix the gap.
• Detailed analysis along with providing solution at each point as mentioned by Auditors in their audit check list.
• Preparing the financial statements along with all schedules and grouping as per applicable accounting standards.
• Preparing schedules and reports in the format given by auditors.
• Identifying the required supporting documents.
• Resolving all the technical queries raised by auditors to the best of the abilities.
• Continuous discussions with auditors to resolve all pending issues.
• Making sure that timelines for closure of audit as fixed by company is met.
• Review of audit reports before it is sent to Management or audit committee for review and approval.

It is always great to know where your business will be financially in three to five years. A forecast tries to predict the future by projecting the upwards trends of revenue and expenses. 

At MentorisCorp we use various forecasting tools to project the direction of your business. We provide both long and short-term forecasts which serve different purposes right from driving a strategic five year plan to looking at more immediate operational reasons.

Depending on your need business forecasting can involve: 

• Producing full financial forecasts considering various economic and market conditions for business growth.
• Providing advice on improving existing forecasts.
• Helping with the research involved in generating a forecast.
• Carrying out regular reviews of the forecast to keep your business on track and recommending any necessary changes.
• Assisting you to set Key Performing indicators (KPIs) to monitor your progress.

A Budget is used as a management tool by organisations as it enables continuous business operations by allotting the available funds to various areas and quantifies what needs to be achieved by the organisation with its limited resources.

MentorisCorp uses previous year’s financial data and the forecasts available to prepare a budget that will illustrate what is likely to happen to your business accounts over the upcoming year, outlining the details for cash flow, revenues and expenses

Budget preparation exercise by MentorisCorp is done taking into consideration the following points:

• Take a pragmatic and cautious approach to cash-flow projection.
• Assign different budget lines to necessary expenses and those not essential to operations.
• Build a cushion with profits to allow for quiet times or unexpected expenditure.

Complying with Central and State Acts and Regulations is very important to keep your company safe from legal trouble. The MentorisCorp’s Corporate Compliance Services team with their expertise in Laws related to companies, labour and information technology along with the related compliance activities provide you with the most effective solutions that can lower your “compliance risk profile”, reduce fines/penalties, save measurable cost and improve the effectiveness of business operations.

Our team conduct the verification exercise of various Acts and Regulations of Central Acts and State Acts related to Labour, Finance, Economic that are of pure technical nature for the due diligence of our clients.

We also help companies and directors to be compliant with their filing obligations under the various Acts, Rules, regulations and notifications.