Tax and Compliance
Tax and Compliance
With a team of Chartered Certified Accountants, based in Auckland, we provide the full range of accounting services to commercial and private clients, with a particular focus on small and medium-sized business.
Financial accounting focuses on the reporting of an organization's financial information to external users of the information, such as investors, potential investors and creditors.
It calculates and records business transactions and prepares financial statements for the external users in accordance with generally accepted accounting principles. Financial accounting produces past-oriented reports—for example the financial statements prepared in 2017 reports on performance in 2016, on an annual or quarterly basis, generally about the organization as a whole.
Management accounting focuses on the measurement, analysis and reporting of information that can help managers in making decisions to fulfil the goals of an organsation.
In management accounting, internal measures and reports are based on cost-benefit analysis. The principles of Management Accounting guide best practice in the discipline.
Management accounting produces future-oriented reports—for example the budget for 2019 is prepared in 2018 and the time span of reports varies widely. Such reports may include both financial and non financial information, and may, for example, focus on specific products and departments.
Tax accounting concentrates on the preparation, analysis and presentation of tax payments and tax returns. The NZ tax system requires the use of specialised accounting principles for tax purposes.
NZ tax law covers four basic forms of business ownership: Sole Trader, Partnership and Company.Company and personal income are taxed at different rates, both varying according to income levels and including varying marginal rates (taxed on each additional dollar of income) and average rates (set as a percentage of overall income).
Virtual Chief Financial Officer (CFO)
This is a business advisor who becomes an extension of your own team providing strategic advice, financial management resources, best practice systems, analysis, reporting and supporting the needs of your organisation on a day-to-day basis.
For more information click here.
We can also assist with prior year catch-ups and IRD audits.
In addition to doing your accounts and tax returns to a high standard, we can help you to increase your profitability through our Business Advisory Services.
Here at Lynch and Associates we also offer a Virtual Chief Financial Officer (CFO) service. This is a business advisor who becomes an extension of your own team providing strategic advice, financial management resources, best practice systems, analysis, reporting and supporting the needs of your organisation on a day-to-day basis, for more information click here.
We can help you:
- to set up business in New Zealand
- to incorporate a company in New Zealand
- with all types of New Zealand taxation and IRD compliance
- with setting up accounting systems such as Xero, MYOB or QuickBooks
- business development and business coaching
- meet your company and commercial law compliance obligations
The Tax, Audit and Business Development team will not only guide you through all the legislation, they'll also help you understand what it means to you and find the best solution from not only a taxation perspective, but a commercial and if necessary an audit perspective as well.
We are a multi-cultural firm of experienced and qualified Chartered Accountants, with accounting technicians and graduates in our team. We have people who can communicate with you in English, Mandarin, Cantonese, Russian, Hindu or Romanian.
A brief history of Accounting
The history of accounting can be traced back thousands of years to the cradle of civilisation in Mesopotamia.
One of the world's oldest continuously inhabited city (at least 11,000 years old) is Jericho, a city located to the west of the Jordan River.