Accounting services in SpainFinancial accounting is the process of identification, evaluation and presentation of economic information, which enables users of such information (business entities and natural persons) to take economic decisions. Accounting is a complex process based on a range of strict rules developed for those interested in business start, development and investment. Reporting is the final stage of accounting and is a system of summarising the interdependent indicators received and describing the financial results of the company for a certain period. Financial statements prepared in a proper way help to analyse and assess functioning of the company, to manage and identify the deficiencies, and to take relevant economic decisions. Today, it is almost not possible for business to function without relevant accounting services. Due to globalisation companies are facing an increasing number of challenges and experience more strict regulations and enforcement by local authorities in the countries where they carry on business. Quality accounting brings transparency to the business and gives management a clear overview of the financial situation in a company. Moreover, companies of all sizes need to record and report business transactions. The best financial result can be achieved with the help of professional bookkeeping services. All commercial legal entities must keep records and carry on accounting in accordance with the Spanish GAAP Standards. In 2008, Spain changed its accounting standards. Spanish GAAP are similar to EU-IRFS; nonetheless, there are some differences. Spanish GAAP and financial reporting standards are set out in a series of 'accounting plans'; Spanish companies must follow these plans, both in terms of accounting standards and the content of the annual accounts. Spain is an EU Member State. It should be noted that Spanish companies listed in an EU/EEA securities market follow IFRSs since 2005. Consequently, The European Commission (EC) periodically issues a document which summarises the use of options of the IAS Regulation by European Union Member States. Bookkeeping performed in a quality and responsive manner is very important for every business regardless of the size. To successfully operate a firm or a large business beside knowledge, expertise and talent, you also need to have at least some sense for finances and running business. Nonetheless, this does not necessarily suggest that you must have good financial background or experience and many businessmen really do not. For the sake of your business, it is highly recommended to find and hire a professional accounting firm that provides professional accounting services. Many business owners benefit by using outsourced services, especially accounting related services. Each firm in Spain must keep its records and provide certain reports to the State Tax authorities, Social Security authorities, other state institutions and departments established by legislation, the commercial register of legal entities, migration offices and so on. Failure to submit financial reports or failure to pay taxes or other charges to the state budget in time may result in problems with the state authorities that may impose different sanctions. However, it is quite difficult for a foreigner to manage accounting and bookkeeping himself. In order to manage accounting of its company, a foreigner must b fluent in Spanish language and be able to understand and interpret Spanish legislation as well as accounting and bookkeeping principles and requirements. That is to say, a foreigner must have a qualification of an accountant. But it is not always easy. Therefore, each Spanish company must have its accountant who will help to prepare all needed reports and returns and submit them to the relevant authorities, advise on taxes to be paid, and help to represent the company in other relevant institutions. That is why many foreigners who start their business in Spain first of all are searching for reliable accounting services in Spain.
How Can We Be Helpful?We provide accounting and bookkeeping services in Spain for a reasonable service fee. Taking into account need f our clients, we provide all necessary accounting consulting, accounting and bookkeeping services as well as consulting services in Spain, such as the following:
- Accounting consulting and consulting on Spanish and international taxation issues. Our accounting consultants are well aware about Spanish tax system and international taxes and accounting specifics. So, you will be given a really professional advice.
- Representation of clients in all state bodies and agencies (State Tax authorities, Social security authorities etc.) as well as in private companies. We can help our clients to open a bank account in Spain for a fee agreed in advance.
- Audit services. The audit of financial statements is an independent examination of financial statements or consolidated accounts of an enterprise and provision of an opinion, which indicates whether the financial statements or the consolidated financial statements in all material respects give a true and fair view of the financial position of the enterprise, the results of its activities, and cash flow. Besides financial audit, on your request we can also perform internal audit, company activity audit. The cost of these additional services are negotiated with the client individually.
- Bookkeeping and accountancy management starting from initial documents and ending with complete financial accounting and preparation of financial reports, tax returns and other relevant documents;
- Analysis of company financial ratios, consulting and recommendations. Financial ratios are mathematical comparisons of financial statement accounts or categories. Ratios are easy to understand and simple to compute. Financial ratios are the most common and widespread tools used to analyse a business’ financial standing. They can also be used to compare different companies in different industries. These relationships between the financial statement accounts help investors, creditors, and internal company management understand how well a business is performing and of areas that need to be improved.
Usually, hiring a reliable accounting firm that provides professional accounting and bookkeeping services will help you to be always informed about all necessary payments. By finding professionals that are focused on your financial and accounting needs, you will not need to think about bookkeeping, tax returns, financial development, your earnings and expenses and will be capable to concentrate more on the core business activities and grow your brand. Using professional accounting services helps you avoid any major financial problems. Therefore, hiring an outsource professional company to manage your finances, means elimination of financial risks because the chances of making serious mistakes are close to zero.Accounting Services in Madrid Business for Sale in Spain Spain Market Research EU Blue Card for Spain How to Employ Foreigner in Spain? Spain Business VISA Opening a Bank Account in Spain Requirements for Business in Spain Cost of Starting Business in Spain Advantages of Doing Business in Spain Starting Bed and Breakfast Business in Spain Opening a Shop in Spain Starting a Real Estate Business in Spain Opening a Restaurant in Spain Opening a Bar in Spain Opening a Hotel in Spain Opening Car Hire Business in Spain Starting a Food Business in Spain Taxi business in Spain Opening a Cafe in Spain