The purpose of accounting is to provide relevant information that is useful for making financial decisions. Companies have typically issued financial statements covering quarterly and annual periods to provide the accounting information needed by present and potential investors, creditors, suppliers, and customers.
Traditionally, periodic accounting takes place over regular intervals, during which financial statements are prepared. Since traditional reporting provides the company’s financial position, results of operations, cash flows, and other financial information several weeks or even months after the reporting period has ended, the information reported is not as relevant as it could be. The sooner a company issues its financial statements for a particular period, the more useful the statements will be to users.
In contrast to periodic accounting, real-time accounting provides financial information on a daily basis. WEALTHINGS technology tools allow for financial events to be identified, measured, recorded, and reported electronically, with no paper documentation.
WEALTHINGS has developed and standardized processes and procedures to capture business activity and design reports that provide our clients with data as needed.
We undertake through review of financials, provide detailed analytics, and help designing finance reports. We perform our analysis using ratios, trends, comparisons, detailed financial scrutiny, industry compare, sensitivity, etc. We also undertake specialized analytics to help you with your Board of Directors and Investor Meetings.
Internal control services
WEALTHINGS provides internal control services to all types and sizes of businesses, to assist in evaluating the effectiveness of the company's internal controls. Many internal control engagements are focused on assisting management in documenting or implementing new systems or procedures and making improvements in internal controls.
WEALTHINGS can assist your company in analyzing, documenting, designing or reviewing internal controls for any or all of your functions. It is important for companies to analyze their business needs and select internal controls that will limit the potential for fraud. This can be particularly beneficial in the event of a new system implementation, a reorganization, restructuring or the need to review your internal control design to develop efficiencies for cost cutting or staff reduction needs.
Increased regulatory scrutiny and large fines have made AML compliance more important that ever. You must have a risk-based program with proof of consistent compliance, which takes continuous, rigorous oversight and time-consuming documentation.
Outsourcing AML compliance to WEALTHINGS eliminates these tasks and reduces the workload on your staff, so they have more time for your core business.
Time is free, but it’s priceless. You can’t own it, but you can use it. You can’t keep it, but you can spend it. Once you’ve lost it you can never get it back.
The consequences of today are determined by the actions of the past. To change your future, alter your decisions today.
The biggest room in the world is the room for improvement.
You are not only responsible for what you say, but also for what you do not say.