SPARK House - 51, Scheme No 53, Near Medanta Hospital, Vijaynagar,
Indore (MP)- 452011

0731-4230240

Mon - Sat 10.00AM - 7.00PM
Sunday Closed

Accounting Analytics

Accounting analytics is the approach of data analytics and big data technologies in the field of accounting. It is an aid for accountants as it helps in managing typical tasks, accounting analytics, form corporate strategy, predict financial trends, fraud, and more.

Allocation of fund, planning, data management, auditing—accountants are used to deal with data. These are the types of data analytics:

Descriptive Analytics: By reviewing and elucidating raw data, is a way to find answers to what has happened. Data such as inventory stock, cost per customer, and year-over-year change in sales is used to generate reports of operations, finance, and sales.

Diagnostic Analytics: To deploy data analytics and data mining to discover reason behind such happening. Done by creating variance reports to highlight the differences between budgeted amounts and actual income or expenses. Financial audits are been conducted which would help to pinpoint fraud or errors. Various tools and software are been deployed to look for patterns and problems in large data sets.

Predictive Analytics: Prediction about what will happen by help of analyzing historical data & patterns. Enterprise resource planning systems, point-of-sale software, credit scores, customer relationship management systems—are few of the sources that can be used to create financial forecasts, project appraisals, trend analyses, budget predictions, etc.

Prescriptive Analytics: Advise is been provided to the management on what should happen. Using various advanced techniques which include machine learning, optimization algorithms, computational modeling .Through this one can analyze the outcomes of “what-if” scenarios, assessment the trade-offs, and what could be the best course of actions.

Such techniques would enable clients to create higher profit margins, increase their efficiency, and get a lead in the competition. Which is possible through such technology as the experts would be able to make sense of their financial data and could suggest ways to make money in the future. It has made easy monitoring and conducting audit of entire population’s analysis of data such as transaction activities, vendor payments, payroll processing could be done at lightning speed hence summarization in financial reports managed well.

Book-keeping and finalization / reporting services

  • Accounting and Book-Keeping are the essentials for running any organization. At SPARK and Associates, we have a diligent team of professionals who will make sure that your books of accounts are been updated so that you can have a track of your records at any point of time.
  • Book-keeping ensures that the financial records of your business in the form of challans, invoices, ledgers, financial reports, expense statements, bank statements, cash registers etc. are updated and well maintained SPARK and Associates provides easy solutions for book-keeping and does it on your behalf.
  • An end to end service where all your accounting needs shall be fulfilled by providing a total accounting solution. From recording to reporting.
  • Maintaining of your books of accounts by recording daily entries and providing monthly or quarterly accounts.
  • Preparation and finalization of annual accounts as per management requirement and as per statutory requirements.
  • Based on the needs of the management we can provide MIS reports for the management so that they have all they need to know about the company’s finances in a single report.
  • We could provide our services even for managing the payrolls, handling of deposits, generate and maintain financial reports of the months, oversee the ever-changing world of sales taxes as well as quarterly taxes and withholding
  • An aid in reconciliation of bank statements to internal account and guidance while an internal or IRS audit.
  • The service includes
    • Evaluating the transactions for the year
    • Customization of reports
    • Personalized additional training
    • Fine tax advice to minimize tax liability
    • Providing with invoicing processing Services
  • Process is designed to precisely reflect business activity, aid for the companies to meet its legal, fiscal and statutory requirements, give their financial accounts to business owners, improved analysis, and facilitating resource allocation efficiently.
  • Visual reports provides help in knowing the financial health at a glimpse, and staying in control with cash flow. It also displays the revenue, expenses, and profit over time. Smarter business decisions are initiated as the fact of where your money is coming from and going to is been known to the client in depth.
  • Other than standard bookkeeping services, we provide custom reports that enable users to analyze their revenue and expenditure in a better way.

We specialize in online bookkeeping services for all sort of businesses and are passionate and go beyond basic number-crunching.

Our outsourced accounting services give you one-on-one support to help you master your finances and free you from your accounting headaches

We would be providing the Accounting Bookkeeping Service Outsourcing to accounting firms such outsourcing would help them to earn substantial profits out of the experience and expertise.

We provide services ranging from basic book keeping to preparation and finalization of period end financial statements and audit committee / Board / Investor pack related thereto. We assist for the finalizations in GAAP and IFRS as per requirement.

CFO Services

CFO, skilled with financial experience and accounting tools effectively manages financial aspects of a business. These services helps the companies in expanding their capabilities, leading to growth, heading towards innovations and mitigating risks.

Our firm provide VIRTUAL CFO SERVICES an outsourced service providing with high scale assistance in the field of finance.

A virtual CFO provides same services as a CFO but as their clients group consists of small businessman, certain more services are been expected from them which include bookkeeping , taking care of accuracy of account books on the same hand interpret financial information .

As small companies require fortnight help VIRTUAL CFOs provide such onetime help with business plans, various financial procedures and budgeting.

Virtual CFO services would help in providing understanding and guidance to help entrepreneurs make finer decisions and extend their company.

Beneficial for startups as they prefer to keep fixed costs low and as our outsourced service provider provides them the services as and when required.

Assistance in the following areas are been provided by our team lead by immensely experienced professional chartered accountants with a promise of duly fulfillment of work:

  • FINANCIAL STRATREGY

    CFO is focused on the long-term strategy of your organization. It helps to establish and communicate operating costs to company executives and investors. This gives your audience a good idea about how much money it costs to run the business.

  • SHORT AND LONG TERM FINANCING

    The most important tools an organization can have as it is detailed financial and operational roadmap from where you are now to how you can achieve your goals.

  • BUDGETING

    The budget provides the benchmarks against which to judge success or failure in reaching goals and facilitates timely corrective measures hence being an important part proper plans are been provided for.

  • COMPLIANCES

    Assistance in compliances and handling the following and related issues:

    • Corporate Governance.
    • FEMA Compliances.
    • Trade Marks and Copyrights.
    • RBI Compliances.
    • SEBI regulations
    • Assist on dealing with all government bodies
  • INTERPRETING FINANCIAL REPORTS

    Examination and elucidation of financial statements are done to the decide the meaning and significance of the financial statement. Main function of financial analysis is to pinpoint strength and weakness of business

    Growing a business requires money and well known of the fact that is not always easy to come. Whatever you are looking forward bank financing, venture capital just keep a step forward we are at your call.

  • RAISING CAPITAL

    Growing a business requires money and well known of the fact that is not always easy to come. Whatever you are looking forward bank financing, venture capital just keep a step forward we are at your call.

  • MERGER AND ACQUISITIONS

    At time when your organization is stepping forward for merger or acquisitions helpful CFO outsourcing would provide required assistance.

Funding support and treasury management

We provide the solutions to closing and post funding. We have expertise in evaluating the short and long term funding requirements and also have the appropriate potential sources & connections. Once the funding needs are assessed and validated, assistance is provided in regard to structuring the appropriate mechanism our treasury management services will assist in efficiently managing, conserving and deploying the funds.

What do we provide ……?

  • We provide financial aid such as
    • Raising / restructuring bank loans
    • Private equity
    • Assistance with pre IPO preparation
  • We assess your key business procedures to guard that the operations are efficient and effective.
  • We assess in estimation of cash needs and making the required decision on methods to raise such cash by borrowing or any other financial options.
  • Outsourcing such service would provide you with the following aids

  • Credit operations being structured for various clients who are in need of strong specialization in debt market which would include assistance in project finance, various structured operations which include assistance in fund raising and funding incentives.
  • Credit operations being structured for various clients who are in need of strong specialization in debt market which would include assistance in project finance, various structured operations which include assistance in fund raising and funding incentives.
  • Assessment of mapping of processes for administering asset portfolios, credit portfolios, assistance in selling non-performing loan portfolios. 
  • Organizing organizational budget funding, funding investments and retiring debt.
  • Our services do include treasury management that is about managing enterprise’s holdings, with the motive of administrating the firm's liquidity and attenuating the various involved risks. It involves a firm's collections, disposal, investment and funding activities. In big firms, it may involve activities such as trading in financial derivatives as bonds and financial risk management.

Inspection, investigation, management audits

Management Audit is a systematic examination of decisions and actions of the management to analyse the performance. Management audit involves the review of managerial aspects like organizational objective, policies, procedures, structure, control and system in order to check the efficiency or performance of the management over the activities of the Company.

Management Audit is an assessment of methods and policies of an organization's management in the administration and the use of resources, tactical and strategic planning, and employee and organizational improvement.

The management audit is a more recent concept. It focuses on results, evaluating the effectiveness and suitability of controls by challenging underlying rules, procedures and methods. Management audits, which are generally performed internally, are compliance audits plus cause-and-effect analysis. When performed correctly, they are potentially the most useful of the evaluation methods, because they result in change.

We firmly believe in providing value added services through highest levels of professional competency and integrity to its clients. Our internal and management audit services are designed to suit individual client specific needs. It can provide you assistance in managing your key business concerns, be it achieving your strategic business goals, meeting operational challenges, complying with regulatory norms or managing reporting requirements.

Our Inspection, investigation, management audits focus on:

  • Review of existing business processes, policies and practices with a view to suggest best practices, including a thorough benchmarking exercise
  • Review of Risk Management Framework and its effectiveness with a view to provide suggestions for strengthening the same
  • Constructive review of operations by keeping the client's business needs in focus
  • Providing result oriented and practical solutions followed by support for its implementation
  • Confirmation of proper compliance with the various regulatory provisions and operational manuals
  • Assisting in meeting the clients’ Corporate Governance requirements

MIS & Data Management Services

A management information system (MIS) is a computer system that serves as the backbone of an organization’s operations. It is system of gathering data from multiple online systems, analyzing such information and reports such data to aid in management decision-making. The organization has other important aspect that is business plan it is a document that describes a new business, its products or services, how it would make money, direction, authority and operating people, finance, operational model, and other essentials for success.

The purpose of the MIS report and proper business plan is to improve decision-making, by providing accurate data on a variety of organizational assets it provides with following benefits as we come to know about the

  • Requirement of funds
  • The equipment or facilities needed for operation
  • Optimum location
  • Existing competition and company’s competitive advantage and how to leverage it.
  • Companies get to have detailed overview of their positives and negatives due to presence of revenue reports and hence company could improve its performance and operations.
  • Overall view of the company
  • Acting as a communication and planning tool
  • With the availability of data of the customer and their feedback helps the company to align its procedures according to the group and needs of its customers.
  • Outsourcing of such services would provide you with following benefit

  • It minimizes the load on enterprise because it involves handling and assessment of large amount of data and providing the organization with required results.
  • Helps the company to gain competitive advantage.
  • Helps the company to identify their strengths and weaknesses with presence of company’s performance year wise analysis, employees' performance record etc.
    As MIS is about managing and evaluating the huge amount of information generated in the organization. Data analytics is a tool which is used for managing such data. All the data is been saved thereby mappings and analysis is done in order to find trends for future analysis. Such analysis is useful for identifying market trends behavior of customers which is an aid for driving company strategies. Such data is then processed by developing, testing, and hereby producing accurate results.

    Advantages of such analysis

    • Useful tool for enabling planning ahead and hence grabbing opportunities of growth
    • Able to understand the customer base in a better way hence generating proper marketing strategies and decisions
    • Such insights could help in enhancing product quality hence leading to increment in both sales as well as revenue.
    • The data facilitates easy comparison of different departments or cost centers.
    • We offer you with a complete MIS, planning, budgeting, and forecasting solution. Post adoption of the plan / budget / forecast we provide expertise in preparing flash reports, regular periodic reports as per specific needs of the management. We also assist in setting up and managing an efficient MIS reporting system.

Payroll processing Services

Payroll is a process consisting of calculation of payments to employees for their work in the company –it may be based upon time or productivity. It needs to be processed by each company periodically. It involves accurate payroll calculations, disbursement, and generation of payslip managing the taxes and keeping the records as per the compliance.

Outsourcing this service would benefit you in focusing on the core business competencies as we take up the responsibility of managing up the payrolls and on the same hand statutory compliance services for your organizations.

Today living in this world of competencies it becomes difficult for an organization to manage end-to-end payroll processes along with being updated with ever changing compliances. Therefore need of such experts rises efficient enough in each task when it comes to adhering to compliance services and managing the payroll of the organization. Such outsourcing is been advised for such big firms to work efficiently.

Importance of such services been rendered

  • Conformity to statutory and compliance requirements
  • Complete assistance of the entire lifecycle of an employee
  • Reduced risk of legal penalties and loss
  • Error free reports and documentation
  • Less investment in IT infrastructure
  • Cost effective solution
  • Fast resolving of employee issues
  • Speedy turnaround of the organization
  • Helps to focus on core business activities