Accounting function outsourcing involves delegating all or part of a company’s accounting activities to an external provider.
This can include bookkeeping, general ledger management, accounts payable and receivable, payroll, financial reporting, and compliance tasks.;
By outsourcing the accounting function, businesses can access expert resources, improve efficiency, reduce operational costs, and focus more on core strategic activities.
An external consolidation department is a specialized third-party team or service provider responsible for managing the financial consolidation process on behalf of a corporate group.
This includes tasks such as collecting financial data from subsidiaries, performing intercompany eliminations, preparing consolidated financial statements, and ensuring compliance with accounting standards. Outsourcing to an external consolidation department allows companies to access expert support, increase efficiency, and reduce internal workload—especially during peak reporting periods.
A consolidated financial statement combines the financial results of a parent company and its subsidiaries into a single set of statements. It presents the group as one unified entity by merging assets, liabilities, equity, income, and expenses while eliminating all intercompany transactions and balances. This provides stakeholders with a transparent and accurate view of the group’s overall financial position and performance.
By outsourcing your accounting function, you can free up valuable time and resources to focus on your core business activities. With our expert team handling your financial processes, you can expect improved accuracy, compliance, and efficiency in your financial operations. Our service is designed to streamline your accounting tasks, reduce costs, and provide valuable insights to help you make informed business decisions. Whether you need assistance with bookkeeping, financial reporting, or tax compliance, our outsourced accounting function can support your business needs with precision and expertise.