Traders, investors, investment bankers, and other market partakers are making use of the technology, media, and telecom industry sector due to its wide-ranging segments including networking, internet, hardware, software, semiconductors, and mobiles that invite them to invest their capitals and make most out of it. This industry sector also contains many high-tech and new companies because of the factor that it experiences a large number of acquisitions, initial public offerings, and mergers.
Technology, telecom, and media are a reckless, swift, and prominent breach for businesses to operate themselves. ProAccountax is fully efficient in dealing with start-ups to well-established businesses as we make use of innovated tactics and tools of accounting and reporting that plays a significant role in the success of businesses in growing and expanding.
Inimitable International Financial Reporting Standards
IAS 39: Financial Instruments
IAS 39 outlines the scales of acknowledgment and measurement of the financial instruments like financial liabilities, financial assets, and some contracts to buy or sell non-commercial entities. In reference to this standard, the primary recognition of the financial tools takes place when any entity turns into a party to the predetermined chucks of the instrument. It is categorized in different classes depending on the nature of the respective instrument that further defines the succeeding measurement of the financial instrument. Special rules apply to entrenched derivatives and hedging tools.
IAS 18: Revenue
It summarizes the accounting conditions regarding the reorganization of revenue from the sale activity of goods or shares, for interest, rendering of services, and royalties and dividends. It expresses that revenue must be calculated at the fair value of the consideration receivable or received and documented when
- It is possible that any financial benefit linked to the item of revenue will flow to the respective entity.
- The aggregate of income can be estimated reliably.
Take Advantage of Expertise of ProAccountax
As you always built your businesses keeping innovations in mind, ProAccountax also finds ways to benefit our clients in the best possible ways with our unbeatable accounting services. To allow our client businesses to grow and excel in the market, using our extensive industry experience, we have customized our service packages in accordance with their needs.
ProAccountax is fully aware of the importance for our clients from the technology, media, and telecom industry to stay competitive and on the lead of advance innovation along with meeting their financial reporting needs up to the international standards. In this regard, our highly qualified and experienced accountants and tax solicitors are providing a complete range of taxation services, financial reporting, monthly and quarterly bookkeeping, and Xero support for our these clients in accordance with their needs and keeping them focused on their business development and other production aspects. Our professionals are fully acquainted with accounting and taxation principles in reference to newly formed and existing media and technology firms.
In the technology, media, and telecom sector, the major challenges that companies face is the availability of funds for consistent development and growth, in this respect, our technical accountants can advise you ideal tactics and techniques that can help respective businesses obtaining maximum tax reliefs offered by the government through multiple taxation schemes and programs. We always keep our clients prevented from penalties and legal complexities due to non-compliance and recommend the best ways to claim maximum tax refunds and benefits from the HMRC.
Our Core Services for Technology Clients
Some of the many exclusive services that we offer to clients from technology, media, and telecom industry include:
- Support with multifaceted and varying accounting matters, mainly those in relevance to the calculation of share-based reimbursements, management of financial instruments, and acknowledgment of returns.
- Business-oriented package for the preparation of financial reports and confirmation statements
- Xero support services
- Preparation and submission of all tax returns including VAT, Corporate Taxes, and Payrolls
- Management accounts in the desired intervals
- Assistance on staff incentive supervision and create inducement packages, that is key to success in such an antagonistic atmosphere where human capital is considered as the primary asset.
- Support with regulatory compliance impacting the industry
ProAccountax holds a diversified client base that comprises companies from different niches, including medical advice, call center services, mobile social media, communications, bioactive products, engineering software, IT products and solutions, video games, and online HR training services, etc. You can also get the benefit of our customized advice designed to help your business to stand out in the market and accomplish your economic and business goals and objectives.