ð Preparation of annual accounts
Why call on CBM?
At least once a year, all businesses must produce accounting and tax documentation on a timely basis. They do not necessarily have the required in-house skills. According to the size of your business, the scope and the workload of your accounting department, CBM offers a tailor-made service to make your accounting function immediately operational.
What CBM can do for you?
- You have no in-house accounting department – Choosing the option of entrusting your Book-keeping to CBM means giving your business the professionalism and experience of specialists. You have nothing to do, except transmit your accounting documents. Recording current operations, filing supporting documents, issuing detailed reports, preparing periodical tax returns - every task is performed with the competence and efficiency of a major accounting firm. An additional advantage: chartered accountants will answer all your questions and provide consulting services throughout the year. Producing the annual accounts will be the completion of our assignment for the current financial year.
- You require the skills of a chartered accountant on a regular basis – Accounting supervision: for a low cost, supervision proves especially valuable. Its principle: your accounting department deals with the day-to-day work. CBM intervenes in support. This will make your staff feel more secure - as they will be able to converse with experts at any time. It will be the guarantee that your accounting records are updated and that accounting rules are correctly applied. In addition, we will draw your management's attention to possible tax or social risks and recommend constructive solutions to avoid them. At the end of the financial year, the regular work of our firm will represent a valuable gain in time when preparing the annual accounts. Finally, at the time of your statutory audit, our working papers will allow you to reduce your accounting department's workload.
- You require the skills of a chartered accountant at year-end – Although efficient when handling current operations and closing your accounts, your accounting department has neither the time nor the necessary tax knowledge for preparing your annual accounts and corporate income tax return. Whatever the organization of your department, you forward your accounting documents to CBM once a year. We will compile them in order to produce the financial statements of your business.
ð Tax and accounting management of holding companies
Why call on CBM?
Whether your Holding Company’s object is only to receive dividends, or is to take over a company or to structure, organize and manage your Group according to the hierarchical system, you need the skills of experts to deal with the specific technical nature of financial engineering transactions and tax matters (VAT, tax on wages, tax consolidation…).
What CBM can do for you?
- Accounting assistance – Book-keeping and payroll processing, preparation of social and tax declarations, preparation of payments and reporting statements, budgetary control, preparation of the consolidated corporate income tax returns, drawing up the reference document required by financial markets…
- Assistance and technical advice – Placing at your disposal expert professionals to support your financial management. Specific accounting and tax advice (group restructuring, analysis of your right to deductible VAT and of your tax liability concerning wages, management of your dividend distributions, accounting translation of complex operations…).
- Operational management of tax consolidation – Assistance and advice to implement tax consolidation, training in tax consolidation, follow-up of changes in the tax consolidated group, processing intra-group transactions, preparation of tax consolidation forms, follow-up of the effects of group restructuring, computation of the tax consolidation result and of the deferred tax and assistance to tax audits.
ð Operational management of tax consolidation
Why call on CBM?
Tax consolidation has become a tool of tax optimization widely used by affiliated companies. As it allows offset of the companies’ positive and negative results and neutralization of a number of internal transactions, tax consolidation reduces the group’s total expenses and offers many tax advantages.
However, the daily management of tax consolidation remains complex, due to the deferred taxation involved, and requires first-rate technical skills.
What CBM can do for you?
- Operational management of tax consolidation – Follow-up of changes in the tax consolidated group, processing of the intra-group transactions, preparation of tax consolidation forms, follow-up of the effects of group restructuring, computation of the tax consolidation result, management of dividend distribution, computation of the deferred tax and coordination with the consolidation process.
- Assistance and technical advice – Placing expert professionals at your disposal, accounting and tax advice regarding implementation of tax consolidation and processing of specific transactions, assistance in preparation of tax consolidation agreements and assistance in tax audits.
- Compilation and electronic transfer of the yearly tax declarations – Compilation of information based on the data provided, issuing the tax declarations, electronic data transfer.
- Information systems – Assistance in the analysis of your needs, proposal of solutions, implementation of the organization adapted to the tax consolidated group.
- Training – Assistance / dealing with your teams’ training process.
ð Reporting
Why call on CBM?
Your group, whose parent company is of foreign nationality, intends to set up (or has already set up) a subsidiary in France
Which solution? Call on CBM, which will take care of your company's accounting and produce regular financial data in compliance with your management's requirements.
When - or after - starting your activity in France
When your management statements must comply with your parent company's requirements, in their contents (standards and accounting principles) and in their form (presentation requirements),
As soon as you require financial data at regular intervals (pre-defined deadlines), in order to react rapidly and to adapt your strategy to the business environment.
What CBM can do for you?
Our assignment proposal will define our contractual relations, and notably the allocation of commitments between your company and ours. A dedicated team of CBM, supervised by a manager, chartered accountant, will carry out the contractual tasks required.
Start-up phase: we will define together the accounting structures that will optimize the reporting process: compliance with the chart of accounts, definition of statements required between corporate accounts and group accounts, definition of reporting parameters, approval of adjusting entries according to your group's accounting policies.
Our team will draw up a procedure of administrative and accounting organization that will detail the data processing method applied for each type of work and the exact involvement of each person concerned. The " rules of the game " will be then clearly defined and applicable by everyone, in everyone's interest.
Recurrent phase: in accordance with your deadlines, we will produce the monthly reporting packages adapted to your management requirements, together with appropriate comments when needed/required.
