Services

Financial Accounting and Operations

Business Process Solutions – service offering

Deloitte offers a full range of finance and accounting services to growing and evolving businesses. Services include organizational, analytical, and recording services for the financial activities of a business, and the preparation of various materials covering the financial transaction life cycle (i.e., collecting source documents, recording transactions, closing books, and preparing reports for internal and external stakeholders).

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Our services can include:

Accounts payable (A/P) processing:

Reviewing and processing supplier and vendor invoices, financial and tax validation, recording of payments in the systems, and maintaining A/P aging reports.

Accounts receivable (A/R) processing:

Processing of bill, credit, and debit notes based on the organization’s management instructions, recording these in the system, and maintaining collection reports

Back-end filling finance functions:

Back-fill key internal or BPS positions during transformation initiatives so that assigned personnel can focus solely on the success of the project without the responsibility of concurrently balancing their “day job.”

Bookkeeping:

Recording of transactions for all balances in the financial statements. This may include collecting customer invoices and employee expenses, and recording taxes/provisions on various business transactions to enable the preparation and maintenance of general ledgers, journals, supplier and vendor lists, bank statements, inventories, and books of accounts required by local and international standards. Our service methodology includes reconciliations of accounts between local books and corporate accounting, facilitating the integrity and accuracy of general ledger balances.

Budgeting:

Reviewing economic and industrial trends with associated key business factors to help enhance corporate accountability and highlight areas for improvement. This may include activity based budgeting, zero based budgeting, strategic budgeting, budgeting on a rolling basis to help facilitate efficient process transformation, and development of financial performance goals.

Delivery of turnkey finance functions:

Implementation of finance functions which are operated by Deloitte followed by insourcing after stabilization has been achieved. Supporting day-to-day back finance and accounting back office functions to help support streamlined processes and efficient utilization as well as bridge any gaps between the business and the system.

Financial reporting and controlling:

Preparation of financial statements and reporting packages for internal and external requirements with a focus on management, corporate and statutory requirements. Our service methodology includes conversion of financial statements to align with regional and/or global statutory requirements (e.g., local to US GAAP, IFRS).

Management reporting:

Assisting in defining cost accounting framework, preparation of budgets, and analytical review of actual results to budgets/forecast with variance analysis and reporting within the approved policies and procedures and internal control environment.

Operational finance function support:

Supporting day-to-day finance and accounting back office functions to help support streamlined processes and efficient utilization as well as bridge any gaps between the business and its technology systems.

Statutory reporting:

Preparation of financial statements and reporting packages for internal and external requirements with a focus on statutory requirements. Our service methodology includes conversion of financial statements to align with regional and/or global statutory requirements.

Support statutory audit preparation:

Assisting in advance of an audit, including preparation of accounting specifications requested by the company’s external auditors. It typically includes support during the audit period.

Temporary finance management:

Providing interim finance and accounting professionals who work as members of your management teams to establish or maintain suitable infrastructure for managing cash and accommodating growth.

Treasury support:

Uploading payments in the system, generating payment reports, preparing checks/transfer letters, and foreign exchange monetization as per the relevant statutory or central bank formats.

Year-end closing procedures:

Review of the full ledger, preparation and review of reconciliations and financial reporting. Reporting can take place at various intervals e.g., monthly, quarterly and statutory year-end reporting.

 

If you would like to learn more about how Deloitte can help, please contact us.

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Low Hwee Chua

Low Hwee Chua

Regional Managing Partner, SEA Tax and Legal

Mr Low Hwee Chua, Deloitte Singapore, is a tax partner and has more than 25 years of experience in taxation services including two years with the Inland Revenue Authority of Singapore. He is the regio... More