Accounting and Administration
Our accounting department consists of highly qualified and experienced personnel that deal with accounting, tax/vat, social insurance and legislation issues of clients all over the world. Our professionals always aim to ensure that our clients’ businesses comply with all government laws and enjoy all tax benefits that Cyprus has to offer.
Additional services that we provide are the following:
- Preparation of VAT reports quarterly
- Preparation of VIES reports monthly
- Social insurance & PAYE
- Management and Weakness reports
- International business
- Management accounts
- Cyprus Audit & AssuranceOther Important Links
What Is Administrative Accounting?
Administrative accounting handles and reports internal factors and figures that influence decision making, operational control, and managerial planning.
An administrative accountant is usually responsible for accomplishing a company’s administrative goal.
How Administrative Accounting Works
Administrative accounting, a subset of managerial accounting, involves a formal methodology for gathering, reporting, and evaluating financial data that deals with management planning and control.
Administrative accounting duties are often carried out by an administrative accountant who is an employee of the company. These individuals are usually in charge of things like bookkeeping, payroll, management of company assets, tax preparation and planning, inventory control and corporate budgeting.
. The position falls somewhere between the human resource department and the finance division. Some key functions might include processing payments, reconciling vendor accounts, processing credit applications for vendors, preparing 1099 forms, and assisting auditors.
Administrative Accounting vs. Financial Accounting
Administrative accounting focuses on business transactions. Financial accounting, more broadly, is the aggregation of data into financial statements.