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 ACCOUNTANCY SERVICES: 
ACCOUNTING SERVICES
AUDITING SERVICES
ACCOUNTING OUTSOURCING
PAYROLL PROCESSING SERVICES
BUSINESS START UP
INVESTMENT PLANNING
PAN / TAN / E-TDS ACCEPTANCE
PREPARATION & FILING OF IT RETURNS
PREPARATION & FILING OF E-TDS RETURNS
PREPARATION & FILING OF ROC RETURNS
TAXATION SERVICES
CORPORATE SECRETARIAL SERVICES
MANAGEMENT CONSULTANT SERVICES
AUDIT SERVICES : Audit
under various statutes : Audits under the Income Tax Act, 1961 Audits under Karantaka Sales Tax 1957 Audits Under The Companies (Amendement) Act, 2000 Audits Under The Karnataka Co-Operative Societies Act Audits under the Indian Trusts Act 1882 Audits for the Banks, financial Institutions, Chit Funds, etc., Due Diligence Audit Any special Purpose Audit
Internal Audit :We at DRS will carry out internal audit for our clients, including management audits and setting up & evaluation of existing internal control systems for various areas, divisions, departments and organizations, and we formulate MIS report statements, internal control procedures and rules. Internal Audit involves review and analytical examination of the records of the entity from the point of view of the internal control, adherence to management policies, Compliance to applicable statutes, and to ensure the compliance of the procedures and policies prescribed by the management.
Information Systems Audit: We conduct Information System Audit to assess whether computer systems safeguard assets, maintain data integrity, and ascertain the goals of the organization are achieved effectively and efficiently. Due
Diligence Audit :Due diligence audit of corporate clients will be undertaken for various purposes. ACCOUNTING SERVICES Accounting can be defined as the process of collecting, recording, classifying, summarizing and interpreting the financial data of an organization. It also includes communicating the financial result of a company to various stake holders. We Maintain clients Book of Accounts by obtaining the monthly detailed vouchers and financial information from the clients and process the data on computer. We can also provide with trial balances, general ledgers and cash flow reports that are updated daily. The monthly reports are submitted to the client, financial Institutions, taxation authorities. Funds management advice is also offered on the same. Accounting Outsource Services, will help the clients to concentrate on their main activity of critical, day-to-day decisions making, while we ensure that, clients day to day financial transactions are being updated timely and accurately. The Financial Reporting will provide our clients an instant access to their accounting records. In addition, we can customize MIS reports to help the entity to run their business more effectively. We at DRS, provide service in maintenance of books of accounts of individuals, firms, companies etc., AUDITING SERVICES Accounting audit includes an independent assessment of how fair the management has been while making and presenting the company's financial statements. It also includes evaluating an organization, its accounting system, processes etc. Auditing service is provided to check the validity and reliability of the financial facts provided by the company and also for providing an assessment of a business, company. The auditing service is performed with complete fairness and by independent and competent people known as auditors, who then prepare a report based on the audit conducted.  Types of Accounting Auditing Internal Auditing Services The process involves examination , assessment and evaluation of a accounting processes, financial statements of a company or business by a company's own employee or by a team of competent professionals. External Auditing Services The process involves examination, assessment and evaluation of accounting processes, financial statements of a company, business by an independent professional. Various government agencies, investors, and public, rely on the services of an external auditor to present an independent and fair evaluation on organizations. Why is it Required ? Accounting audit helps to run a company/ business efficiently and cost-effectively. It includes thorough examination of how a company operates, how is keeps its stock levels, payment receivable period, creditors management etc. It helps a company know its areas of improvement and also helps to avoid any financial errors and omissions. It is necessary for testing the company performance against industry standards and its direct competitors. The process helps in providing and recommending ways to improve the company's existing accounting practice. Auditing Service Offered Auditing is a vast field in itself. It involves a comprehensive study of a company and its accounting systems. There are types of quality services being offered by chartered accountants to their clients. The standard service can be customized to suit the individual client requirement. Some of the services offered are: Financial Auditing Services A financial audit is an audit of financial statements, involving the examination of a company's balance sheet by a third party or a legal entity. It results in establishing an independent & fair opinion on whether or not those financial statements are accurate, complete, and fairly presented. Internal Audit / Concurrent Audit service The service involves assessing and evaluating a company's system of internal control. The service ensures improvement and value addition to company's operations. The emphasis is always on strengthening the internal control systems for minimizing accidental or deliberate accounting errors and omissions. It also involves protection of assets and ensuing compliance with a company's internal operating policies. Management Audit Service The service involves assessing, checking and making sure that management procedures are being conducted in a way to assure quality, integrity or standards of provision and outcomes. It also includes maximizing the management performance by improving the internal processes of an organization. Operational Efficiency Audit Service The service involves ensuring that all the resources of an organization are being optimally used for delivering maximum possible return/value. It also includes streamlining various internal processes, measuring the performance of management and staff and also ensure minimal waste. Special Investigative Audit Service The service involves helping the businessmen or corporate clients to prevent situations of fraud and financial impropriety. It involves assisting the clients in every possible manner to find out cause for any frauds and preventing them. Due Diligence Review The service involves helping businessmen and corporate clients during merger & acquisitions, joint ventures and investments. It involves informing the clients about the local laws, regulations, accounting practices and thus make sound financial decisions. Accounting System Design and Review The service involves developing and installing systems that help to manage accounting data and costs. This further helps the management in making critical decisions. ACCOUNTING OUTSOURCING In today's scenario of globalization and technology convergence, the process of doing business has been redefined. Outsourcing various processes makes a lot of business sense. Most businesses and large companies are outsourcing their accounting processes for better management of their finances and time etc. These services are structured to suit an individual client's needs and requirements. Some of the accounting services being outsourced are: General Accounting and Bookkeeping Services The service involves preparing and maintaining day-to-day bookkeeping and monthly or quarterly management accounts. These books are prepared as per the US GAAP accounting standards and can also be made as per specific client instructions. Preparation of Financial Statements The service involves preparing a company's annual accounts and schedules ready for the statutory annual audit. Payroll Services The service involves preparing monthly salaries of employees, administering commissions, calculating incentive and bonus payments, and monitoring and reimbursing staff expense accounts. Calculation of pensions and insurance is also done. Tax planning & Returns The service involves helping the clients make necessary periodic income tax, sales tax and other returns. It also includes helping the client make sound investment decisions and help him avail various rebates and deductions. Creditor Payment The service involves paying off the creditors at a chosen time and leaving the ultimate control with the management. Debt Collection The service involves assisting the client with the recovery of debts. Taking necessary legal action in case of defaulters. Cash Handling and Banking Operations The service involves assisting the client with treasury functions including the operation and monitoring of high interest deposit and current accounts. Cash Forecasting The service involves analyzing the cash requirements of the business and making cash forecasts for planning the future. Advantages Companies are outsourcing accounting services to avail the following benefits: • Collection, summarization, and accurate analysis of financial data • Correct interpretation of the company's financial position • Analyzing the potential risks in advance • Optimization of business resources and processes • Informed and better managerial decision making • Cost effectiveness • Time saving Outsourced Accounting Services Below are some of the accounting services that are being outsourced to professional firms by medium and large scale companies:
PAYROLL PROCESSING SERVICES |
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