us nl

Preparation of Financial Statements

8519992-goudvis-sprong.jpgThe financial statements of an organization provide insight into the organization’s financial position and underlying economic value. Information derived from an organization’s financial statements is essential to the information needs of not only the organization’s shareholders and stakeholders, but also the IRS and financial institutions. These financial statements users are predominantly interested in the applied accounting treatments, the recognition of liabilities and assets, the reliability of measurements and estimates, the economic substance of business transactions and whether these financial facts are incorporated into the financial statements in accordance with accounting standards such as Dutch GAAP or IFRS. A dynamic complexity that interferes with the alignment of the financial statements to the applicable accounting standards is that it creates the astounding situation that an organization’s (consolidated) commercial financial statements and tax returns in principle do not correspond with one another in nations such as the USA, the Netherlands and the UK. These variances are caused by the substantial difference in permissible accounting treatments in the composition of the fiscal versus the commercial financial statements. Therefore, many organizations face the circumstance that certain accounting treatments are allowed commercially, but not on a fiscal-judicial level and vice versa. For this reason, these variances need to be properly reconciled.

“Measure what is measurable, and make measurable what is not so”

Galileo Galilei (15/02/1564 – 08/01/1642), Italian physicist, mathematician, astronomer and philosopher

Van Clamsfield International Ltd. prepares an organization’s financial statements, including the following aspects:

  1. Preparation of consolidated or singular financial statements, consisting of balance sheet, income statement, cash flow statement, financial parameters, financial graphical analysis, fiscal analysis, IRS requested or mandatory attachments, disclosure notes and thorough notification of compliance with required accounting standards, internal accounting declaration (without controlling authority);
  2. Sound reconciliation of divergences between fiscal and financial statements;
  3. Practical guidelines and timely advice on imperative, pseudo-facultative, and facultative variances;
  4. Filing of tax returns and tax compliance, employing SBR certificate;
  5. Robust advice on required accounting treatments that stem from the accounting standards;
  6. Van Clamsfield International Ltd. is awarded with the Dutch government certificate of the internationally recognized standard business reporting (SBR) for intermediaries, which allows for encrypted and therefore safe communication and transfer of financial data (in XBRL-format) with the IRS, financial institutions, the Chamber of Commerce and the Central Agency of Statistics in the Netherlands;

In addition, Van Clamsfield International Ltd. develops critical overviews concerning:

  1. Provisional results report (monthly, quarterly, biannual) to improve the operating result; consists of interactive management dashboard in graphic design with insight into liquidity, solvability, shareholders’ equity, net income and key performance indicators;
  2. Budget planning report provides insight in the difference between forecasted and actual results; consists of dashboard in graphic design and graphic tables that show the product-market combination, substantiated by prices and quantity – also can be used for detailed scenario building;
  3. Liquidity reports and presentation of cash flow forecasts are often required in corporate financing; consists of a deepened examination of turnover, sales groups, product-market combination, substantiated by prices and quantity or the organization’s capacity, tariffs and occupation degree;
  4. Business analysis - based on key performance indicators - gives the organization optimal decision authority to govern the strategic and operational decisions in a way that is unparalleled and will leave the competition baffled. This report allows for the implementation of an organization’s detailed business balance scorecard; the quantification of financial and non-financial information into well-ordered management dashboards that provide timely and relevant management information that does not follow the industry leader but rather permits an organization to make their own rules and utilize their own private information to the maximum and most optimal capacity.

Van Clamsfield International Ltd. is focused on assisting entrepreneurs in assembling their management and human capital in order to cooperatively achieve firm value optimization, which permits the firm to provide a valuable contribution to all of its constituents.

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