ZNMS (NF1232)
Chartered Accountants (Malaysia)
Established 2013
Practice Areas
The range of services provided by the Firm is wide. Below is a brief summary of the major services that are available.
Accounting
Being a chartered accountants firm, it is only natural that this service be extended to its clients either on a full-time or part-time basis. The Firm not only writes up the books of its clients but also provides advice on accounting systems best suited to the clients’ business. This involves the setting up of an accounting system with the necessary internal controls with the main objective of achieving efficiency, accuracy and security. It is not the Firm’s policy to write up client’s books of accounts perpetually but rather until such time where it is economically feasible for the client to engage a full-time staff or if the service is so sought, to train the clients’ staff until they are competent enough to maintain full records of the clients’ accounts.
In additions, GST reporting obligation begin when the supply income exceeds the threshold of RM500,000. Thus, we offer advise on aspect of GST code in the computerised accounting system. We also offer service of preparing GST-03 form via online in the website of the Customs TAP whereby the filing submission is subject to monthly basis or 3 months basis.
Auditing
We have alliance with other public accounting firm around Malaysia which have valid audit license from Ministry of Finance. This is a service that is widely provided in all public accounting firms and usually form the backbone of public accounting firms. Auditing department is the largest department. Its clients include engineering, plantation, mining, logging, housing developers, shipping, trading, construction and manufacturing companies, co-operative, societies, persatuan nelayan and many other industries and businesses.
Accounting Software Provider
We provide services in supplying software such as MYOB computerized accounting software through its latest version neither accounting nor premier version. Accounting software is purchased through our business partner who holds professional partner license with MYOB. The price offered is subjected to the price that is proposed by the MYOB manufacturer. We also ensure that the software sold can be used through software installation, preparation of the chart of accounts in accordance with customer industry and we'll do data test in the MYOB file so that it is at its best performance before fully used by customer.
Secretarial Services
This service is provided to maintain and update statutory records of companies. Such service includes company formation, filing of statutory forms, attending meetings and preparation of minutes, advising clients regarding company secretarial matters etc.
This department is set up essentially to assist the Firm’s clients in meeting their statutory requirements with the Registrar of Companies.
Tax Consultation Service
Our tax professionals offer clients a unique mix of tax expertise and business awareness. As in the other areas of our practice, we believe a sound understanding of the clients’ business goals and objectives is essential for us to identify intelligently their needs and act as a catalyst in identifying innovative tax planning opportunities.
Apart from audit-related services such as reviewing the adequacy of provision for income
taxes and reviewing tax returns for any open years to identify areas of potential exposures or areas where refunds might be claimed, we provide other tax services such as:-
· preparation of income tax computations and supporting schedules for submission to the Inland Revenue Board;
· applying for and making payments of tax including withholding tax to the Director General;
· attending to any tax queries raised by the Inland Revenue Board in the course of finalising
the tax assessments;
· filing appeals against any excessive assessments;
· requesting for refunds of any tax overpaid;
tax compliance work such as reviewing statements of income of the company’s employees prior to submission to the Inland Revenue Board, filing the employer’s return Form E, filing notification of commencement and cessation of employment of the company’s employees, obtaining tax clearance etc;
· assisting our clients in applying for tax incentives e.g. pioneer status and investment allowance;
· compliance and consulting work on Real Property Gains Tax;
· assisting clients in areas where tax can be minimised within the existing law and practice;
· identifying alternatives available to clients in restructuring and reorganising their group of companies;
· describing the tax consequences of each alternative in any tax planning scheme and assist in weighing the comparative advantages and disadvantages of each alternative;
· alerting clients of any tax exposure to their companies and assist in finding solutions to overcome or reduce the exposure;
· advising on any tax ramifications that may arise from making any business decision;
· reviewing any tax returns prepared by client’s accountants; and
· advising on any general tax matters that may arise from time to time.
Management Consultancy
Design of systems
· Financial accounting systems;
· Management accounting systems; and
· Administration systems, etc.
Business planning and appraisal
· Company appraisals;
· Organisation and corporate planning;
· Management audit; and
· Merger and acquisition studies, etc.
Finance
· Financial controls;
· Cash flows forecast;
· Projected income statement;
Training
We provide training in the use of accounting software MYOB and the learning period is depending to customer. In additions, we also provide courses which refer to basic of accounting and book keeping in line with the current needs of the customer.
Certificates of attendance will be issued and verified by our trainer which holds chartered accountants qualification in Malaysia.
General
Generally, the above is a selection of the services that can be provided by the Firm. However, it is not exhaustive and we are at all times ready to work with clients in all areas of their activities where the involvement of a public accountant is considered to be of assistance.