Benefits of Using FRS

Achieves the quality that you desire at a lower cost

• FRS provides your Annual and Interim Financial Reports in a smart and well presented format
• FRS reduces the turnaround time of producing Annual and Interim Financial Reports
• FRS reduces the number of drafts to a target of four (preliminary, pre-audit, audit adjustments, final tax adjustments)
• FRS reduces your financial reporting preparation costs
• FRS allocation of general ledger account ensures consistency from year to year
• FRS provides flexibility of wording while maintaining integrity of numbers
• FRS has automatic note number references, automatic links between numbers (such as note to balance sheet) and automatic rounding
• FRS prepares the cash flow statement using their proprietary “FRS CFLOW” tool
• FRS provides accounting technical support in accordance with International Financial Reporting Standards

True integration with audit and tax

• FRS provides auditors with audit lead schedules (exported to Excel for their convenience)
• FRS provides auditors with draft Annual and Interim Financial Reports prior to their post year end audit commencing
• FRS provides tax agent with schedules to assist them with the tax return
• FRS can provide assistance in the preparation of deferred tax calculations and UIG 1052 adjustments

Reduces staff issues

• FRS frees up your time to allow you to concentrate on your real job – the day-to-day management and running of the business
• FRS eliminates the technical burden of keeping your staff up-to-date on financial reporting requirements
• FRS reduces the internal statutory burden especially at a time of reduced finance headcount