STAGE 2 - MANAGE

Accounting

We prepare structured financial information to support reporting, compliance, and business decision-making. Accurate, timely accounts are the foundation for tax, audit, and strategic planning.

Scope of Services

What's included

Management accounts

Preparation of monthly, quarterly and yearly management accounts, giving you a clear view of revenue, costs, expenditure and profitability.

Financial statements

Preparation of a full set of financial statements including profit and loss, balance sheet, and cash flow.

Periodic reporting

Preparation of regular financial reports based on your reporting cycle, ensuring timely and consistent visibility of your financial performance.

General ledger maintenance

Maintaining your general ledger by recording transactions and ensuring all accounts are accurate and up to date.

Adjustments & reconciliations

Performing year end adjustments, accruals, prepayments, and reconciliations to ensure your accounts are complete and ready for audit or reporting.

STAGE 2 - MANAGE

Accounting

We prepare structured financial information to support reporting, compliance, and business decision-making. Accurate, timely accounts are the foundation for tax, audit, and strategic planning.

Scope of Services

What's included

Management accounts

Preparation of monthly or quarterly management accounts, giving you a clear view of revenue, costs, and profitability.

Financial statements

Preparation of a full set of financial statements including profit and loss, balance sheet, and cash flow.

Periodic reporting

Preparation of regular financial reports based on your reporting cycle, ensuring timely and consistent visibility of your financial performance.

General ledger maintenance

Maintaining your general ledger by recording transactions and ensuring all accounts are accurate and up to date.

Adjustments & reconciliations

Performing year end adjustments, accruals, prepayments, and reconciliations to ensure your accounts are complete and ready for audit or reporting.

Key Considerations

What we help you think through

01

Accuracy of financial reporting

Financial statements must accurately reflect the company’s true position. Errors such as misclassified transactions, unreconciled balances, or missing accruals can misrepresent performance and affect tax and audit outcomes.

02

Timeliness of information

Accounts prepared long after the period are less accurate. We work to a reporting cycle that provides current financial information when you need it.

03

Alignment with accounting standards

Most Malaysian SMEs prepare accounts under MPERS. Applying the correct standard consistently affects recognition, disclosures, and how the accounts are interpreted.

04

Readiness for tax and audit

Accounts prepared with tax and audit in mind reduce time and cost. We structure records from the outset to meet these requirements without rework.

01

Accuracy of financial reporting

Financial statements must accurately reflect the company’s true position. Errors such as misclassified transactions, unreconciled balances, or missing accruals can misrepresent performance and affect tax and audit outcomes.

02

Timeliness of information

Accounts prepared long after the period end are less accurate. We work to a reporting cycle that provides current financial information when you need it.

03

Alignment with accounting standards

Most Malaysian SMEs prepare accounts under MPERS. Applying the correct standard consistently affects recognition, disclosures, and how the accounts are interpreted.

04

Readiness for tax and audit

Accounts prepared with tax and audit in mind reduce time and cost. We structure records from the outset to meet these requirements without rework.

01

Accuracy of financial reporting

Financial statements must accurately reflect the company’s true position. Errors such as misclassified transactions, unreconciled balances, or missing accruals can misrepresent performance and affect tax and audit outcomes.

02

Timeliness of information

Accounts prepared long after the period end are less accurate. We work to a reporting cycle that provides current financial information when you need it.

03

Alignment with accounting standards

Most Malaysian SMEs prepare accounts under MPERS. Applying the correct standard consistently affects recognition, disclosures, and how the accounts are interpreted.

04

Readiness for tax and audit

Accounts prepared with tax and audit in mind reduce time and cost. We structure records from the outset to meet these requirements without rework.

Related articles

At a glance

Key facts to know

MPERS applies to most Sdn Bhd companies, while MFRS applies to larger or listed entities.

Financial statements form the basis for tax filing, and errors lead to incorrect submissions.

Financial statements must be lodged with SSM annually. Corporate tax returns are filed separately with LHDN.

Management accounts support internal decisions, while statutory accounts meet SSM and LHDN requirements.

Accounting records must be retained for at least 7 years.

Well-prepared accounts reduce audit time and cost, while poor records cause delays.

Our Process

1

Data collection
We collect your source documents, including bank statements, invoices, receipts, and payroll records for the relevant period.

2

Transaction review
Transactions are reviewed, categorised, and coded to the appropriate accounts.

3

Account preparation
We prepare your management accounts or financial statements, including necessary adjustments and reconciliations.

4

Reporting
Completed accounts are presented with key figures and variances highlighted for your review.

5

Ongoing updates
We repeat the process on your agreed schedule and update records as new information becomes available.

Who this is for

This service is suited for

Growing businesses

Companies scaling up who need proper accounts to track performance and support future planning.

SMEs needing reporting structure

Businesses operating without formal accounts who need to establish a proper financial reporting cycle.

Audit-ready companies

Companies preparing for statutory audit who need clean, well-structured accounts before the auditor steps in.

FAQS

What is the difference between bookkeeping and accounting?

Bookkeeping covers the recording of transactions. Accounting takes that data further to prepare financial statements, apply accounting standards, perform reconciliations, and produce reports for decision-making and compliance.

Yes. Financial statements must be prepared and lodged with SSM annually. They also form the basis for tax filing and statutory audit.

Most private limited companies in Malaysia prepare accounts under MPERS. Larger or listed entities apply MFRS. We advise on the correct standard based on your company’s profile.

This depends on your business needs. Monthly or quarterly management accounts provide timely visibility over performance and support better decisions throughout the year.

We work from bank statements, invoices, receipts, payroll records, and any other relevant source documents for the period.

Timeline depends on the volume of transactions and completeness of records provided. We work to an agreed schedule and keep you informed of progress.

Get in touch with our team.

Firm Care Group works with businesses across different stages of growth, providing practical support and professional guidance tailored to operational and compliance requirements.

Get in touch with our team to discuss your requirements and explore suitable next steps for your business.