Outsourcing

Outsourcing

Outsourcing is a primitive type of consulting that has emerged as a result of innovation in cost-effective corporate growth. As the term implies, outsourcing enables the management of businesses of all sizes to focus and apply their energy on their core activities while handing non-core responsibilities to an external service provider.

AMCO is well equipped to handle outsourced services ranging from handling and managing management accounting and bookkeeping, fixed asset management, human resource, internal audit, CFO on demand, corporate and tax law compliance, etc.
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Human Resource (HR)

The success of your company depends on your investment in a strategic HR program, which is seen by an increasing number of businesses as a source of competitive advantage.

One of our key tasks is to develop HR outsourcing and consulting services in a manner that increase productivity, attract and retains talent, lightens the load on the administrative staff, and assists conditions where employees can perform most productively. When looking for skilled people to meet our client's personnel demands, we carefully plan and carry out our search. Our preparation guarantees that there is a supply of individuals with the necessary abilities, and as a result, the goal of our talent search service is to find the perfect person for the position.

The primary focus of AMCO HR management is to guarantee that the appropriate amount and kind of workforce is in place. Following performance evaluation, career development, and sufficient training, organizational synergies in terms of lower costs and more efficient operations are available.
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The Firm, with its professional staff specialized in HR management, helps the client in:

  • Manpower planning to optimize organizational hierarchy.
  • Job evaluation and reward structuring.
  • Recruitment and selection.
  • Employment law implication and compliance.
  • Training, annual evaluation, and development policies.
  • Performance appraisal and management.
  • Workload analysis and competency assessment.
  • Redundancy planning and counseling.
  • HR audit and payroll services.
  • HR benchmarking (comparison with standard best practices).

CFO on Demand

The performance of your company will improve if you outsource your financial services since such services will be handled by business professionals who are constantly informed about new industry legislation, technologies, dangers to the business, and its defences.

By availing AMCO's CFO on-demand services, your business will benefit in the following ways:

  • Access to professional competence 
  • Forecasting and preparing budgets 
  • Accounting staff’s training
  • Access to improved technology
  • Conduct feasibility analysis 
  • transferring personnel to higher value-added business operations 
  • Performing system reviews 
  • Designing business plans 
  • Business Process Reengineering 
  • Establishing the guidelines 

Our assigned CFO may carry your company's business card and represent your organization in critical meetings with investors, banks, customers, suppliers, etc. To the outside world, your AMCO CFO will seem identical to your other full-time staff members.

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Fixed Asset Management

Agha Mujeeb & Co. (AMCO) can assist you with fixed asset management and ensure that your fixed assets are maintained properly. The following fixed asset management services are offered by us: 1) Support with the maintenance of the fixed asset register
We can help the management keep track of fixed assets and make sure the register is up to date and according to ICAP TR-06 at your location/ offices. Fixed asset Location, custodian of the assets, date of purchase, item code, voucher number, cost, depreciation, depreciation charged, details of disposal (if any), assets reference number, etc. are all included in the Register.

2) Review of the client's fixed asset register
We will review the client's fixed asset register, and any necessary modifications will be recommended to management. We'll ensure that the register has all the information essential for properly preserving the assets. To guarantee that the management has effective control over the assets, the location specified in the register will be cross-verified as much as is practical. Our staff will make every effort to physically confirm the existence of the assets listed in the Register and record that information in the register.

4) Proper classification of WIP
We will make sure that the capital work-in-progress is moved to the appropriate asset head upon completion, also costs are properly allocated, and that the asset's total value is recalculated to guarantee that the right value of an asset is represented in the books. We will double-check that the costs are directly related to the definition of fixed assets, other costs are deducted, and the timing of the transfer of assets from WIP is verified.

5) Tagging of fixed assets
We can assist the customer in tagging the fixed assets by assigning a unique asset barcode to each asset, which will update the system with information about its actual position. The listed assets will be compared to the assets that have been tagged, and any differences will be noted. Asset tagging requires an initial investment of time and money, but the advantages are long-lasting since it reduces the risk of asset loss or theft and leaves a complete trail of all assets.

6) Physical Verification of fixed asset
To confirm that the fixed assets listed in the books exist in the company's facilities or custody, a member of our staff will visit your location and undertake fixed asset verification. The control mechanisms now in place will also be evaluated, compared to best business practices and any recommendation will be provided. 3) Revalued asset accounting We will make sure that the assets revalued by the competent valuer are properly allocated to the revaluation reserve and are properly accounted for. We will also confirm that the updated depreciation on these assets has been calculated correctly and is being accounted for in accordance with the International Financial Reporting Standards (IFRS).

Management Accounting and Bookkeeping

Bookkeeping is an extensive project within the entire accounting services of any business, requiring the purchase of expensive accounting software and the employment of qualified personnel; consequently, outsourcing is the appropriate choice. It saves your time and money and provides you the peace of mind and confidence you need to fulfill your full company potential. Our seasoned professionals will assist you in implementing and maintaining a consistent financial procedure that will improve business processes and promote consistency in monitoring and reporting.

We, Agha Mujeeb & Co. (AMCO), can assist you with Accounting and Financial Reporting by managing the books of accounts appropriately and ensuring compliance with all regulatory standards. We understand the demands of each organization and tailor our reports to the management's specifications.

Availing AMCO’s services will assist you in the following:

  • Setting up of Chart of Accounts.
  • Monthly Review of accounts by a professionally qualified partner.
  • Journal Ledger Preparation.
  • Petty cash accounting.
  • General Ledger Reconciliation.
  • Accounts payables reconciliation.
  • Bank Statement Reconciliation.
  • Accounts receivables reconciliation.
  • Inventory Management.
  • Factoring of Accounts Receivable.
  • Aged receivables / payables management.
  • Preparing Accounting Policies, Procedures, and Manuals.
  • Budget Set up & Budget Status reports.
  • Allocation of payments & receipts to match invoices.
  • Outsourced Bookkeeping Services.
  • Payroll Management as per your country’s labour law.
  • Gratuity provision calculation as per your country’s labour law.
  • Evaluation and ensuring accounting & reports as per IFRS.
  • Reconciliation of any end-of-year amendments required by external auditors.
  • Comprehensive Financial Reports.