No business is capable of functioning optimally without efficient and comprehensive cost, management, and financial accounting systems, and financial statements, payrolls etc. in place. No business is capable of functioning optimally without efficient and comprehensive accounting systems in place. Financial accounting, management accounting, financial statements, cost and management accounting, payroll – these are all areas that need to be effectively managed so that your business is leveraged for sustained success.
In broad terms, accounting or accountancy refers to the measurement, processing and communication of financial data of economic entities. It was first established towards the end of the 15th century by the Italian mathematician, Luca Pacioli.
Financial accounting (also known as financial accountancy) denotes a specific field of accounting that deals with the summary, analysis and reporting of financial transactions relevant to a business. It includes the preparation of financial statements that are accessible by the public.
Management accounting, by contrast, is a branch of accounting services whereby managers use prepared accounting data for the purpose of better informing themselves before making decisions that impact various components within their organisations. In so doing, their management and performance of control functions are enhanced and optimised.
In every aspect of the accounting function, ranging from day to day tasks to payroll outsourcing and administration, and from the preparation of periodic management accounts to audit readiness file preparation and audit support, SumTotal can be relied upon without hesitation.
We are also able to assist you with the compilation of financial statements in terms of full International Financial Reporting Standards (IFRS), or IFRS for SMEs.
Tel 021 045 0550
Cell 082 045 6904
Office 105 | Suntyger Building | Willie van Schoor Drive | Bellville | 7535