Accountancy Services in Uganda and East Africa

JW & PARTNERS is the fastest growing Accounting Firm in Uganda.

Our accountancy services include;-

• Tax accounting services
• Characterization, classification and posting of transaction.
• Budgets preparation.. read below.
• Preparation of financial reports.read below...
• Interpretation (Analysis) of financial Reports.
• Business plan and Budget preparation.read below.
• Training accounting and financial management.
• Recruitments in finance and Accounts department.

Preparation of financial Reports.

A financial report is what an organization relies on to asses it performance, and makes important decisions about the organization.

Financial statements provide information about the financial position, financial performance , cash-flows of an entity that is useful to a wide range of users in making economic decisions. They show results of management's stewardship of the resources entrusted to it. To meet these objectives, financial statements provide information about an entity's assets...read fixed assets mgt systems ..liabilities, equity, income and expense..read posting of transaction....,including gains and losses,  other changes in equity and cash flows.

The report presented will depend largely on the accuracy in characterization and classification of   transactions, accounting management information systems and quality of management...read management information....

There are many considerations to be made when one is preparing acceptable financial statements

 JW & PARTNERS is there for you if you wish to prepare financial statements and reports that agree with the International Financial Reporting Standards which management can present as Drafts for the External Auditor....contact us...

Budgets:-

A budget financial report is an important control tool. But in order to prepare a good performance report, an organization should have a detailed master budget.

 Most budgeting systems in Africa especial tend to follow the incremental budgeting approach,which is associated with costs control slacks and has severe implications for corporate financial management.

Efficient and effective financial management and reporting involves: preparation of budgets; periodic performance measurement and reporting; In most organization, the preparation of budget performance reports is largely the responsibility of management accounts. The budgeting process which includes Reporting period, Recipients (Head of Responsibility Unit).

Annual Budget, Current period budget, previous period actual; Same Period (previous year), Current period (previous year), Current Period Actual (A); Variance (A-B); Year to date performance, Remaining Budget allocation and Remarks/comments.

A number of errors are often made while preparing budgets and performance reports making them ineffective towards helping management understands the organisations successes.

These errors stem from committed expense, Flexing Budgets, Favorable and unfavorable variances, Human and machinery Capacity Utilization, Capital Budget performance report,Comparative performance figures, budgetary slacks, Non-value adding activities.Incremental Budgeting Approach and Report timing.

The benefits of running an organization on a well prepared and implemented budget plan are enormous and coming up with a good budget can pose a challenge to managers of organisations that's why you need JW & PARTNERS to help you. We have very experienced consultants to help you in this endeavor so …Contact us... now.

Business plan 

A sustainable business plan is an excellent tool to get your business started on the right track and for organizations that are already running it helps steer them towards their desired goals.What is interesting though is more often, you hear people say, 'Our business plan was professionally developed and very realistic!' Then comes the question, 'why then did you fail to translate it into a business?' There are a number of reasons why a sustainable business plan may fail to be translated in to action. These include:

• The business plan is not aligned with the strategic plan.
• The implementation process is flawed
• The implementation drivers are ignored during the launch.

We help organizations not only develop strategic plans but we walk with them through the implementation process to ensure its success... contact us...