The provisions set out in the Hong Kong Companies Ordinance require all Hong Kong registered companies to maintain proper records and books of accounts and to comply with statutory audit requirements on an annual basis. Hong Kong has adopted a Financial Reporting Standards framework (HKFRS) based on the International Financial Reporting Standards (IFRS).
In order to accommodate private companies and small and medium sized entities the Hong Kong Institute of Certified Public Accountants (HKICPA) further issued Financial Reporting Standard for Private Entities (HKFRS-PE) and qualifying SMEs (SME-FRS) removing topics and disclosure requirements that are not generally relevant to private entities, and simplifying requirements for recognition and measurement.
TLP can assist establishing a dedicated bookkeeping and accounting system to record and manage the bookkeeping and accounting operation and file all bookkeeping and accounting materials systematically. We are able to comprehensively support you and your business with accurate bookkeeping, accounting and financial reporting, thus leaving you to focus on your core business activities. TLP will advise you of any changes that will affect your business and accounting.
Our accounting services offered in China, Hong Kong and Macau include:
- Maintenance of accounting books and records
- Preparation of periodic and annual financial statements
- Management and cost accounting reports and analysis
- Advice on improving existing accounting and financial reporting systems
- Preparation of profit and cash flows forecast
- Preparation of budget and variance analysis
- Merger and acquisition advisory