M G N G & Co, Chartered Accountants
ABOUT US
M G N G & Company is a partnership firm registered with Institute of Chartered Accountants of India. The firm is owned by seasoned finance professionals Mr. Manish Gupta and Mrs. Neeru Gupta, both partners are having more than 20 years of experience in the field accounting, finance, corporate advisory and taxation (both direct and indirect) matters. Below is the brief profile of both the partners.
1. Mr. Manish Gupta
Manish is a chartered accountant and commerce graduate from Delhi University. He possesses +20 years of work experience in finance domain. He has worked in many Indian and Multinational pioneered companies in IT and Telecom sector, to name few, he has worked in Infosys, Steria, British Telecom, Hewlett Packard. He has performed global roles in finance and handled ~$50m 10 ~$1.3b P&L size during his tenure. He is an expert in business planning, financial controls, commercial management, change management, operation finance, pricing, project management, accounting, management reporting, delivery cost reduction, and P&L management.Email Linkedin Whatsapp
2. Mrs Neeru Gupta
Neeru is a chartered accountant and commerce graduate from Delhi University. She has an excellent academic record and a rank holder in Chartered Accountancy exam. She possesses +20 years of work experience in finance including regulatory compliances. She has worked for many reputed Indian companies in logistics, food processing, real estate, and packaging industries. She is an expert in statutory audits, internal audit, tax audit, company law compliances, tax assessment cases, financial capital restructuring, short term or long-term financial arrangement from banks, audit of cooperative societies.Email Linkedin Whatsapp
OUR SERVICES
Book Keeping / Back Office Accounting
• Prepare Industry Specific “chart of accounts”
• End customer invoicing, accounting and recording of client payments
• Track and reporting of accounts receivables ageing
• Follow up with ageing customers as per client’s suggestion
• Enter bank deposits
• Record cheque issued
• Accounting of supplier invoices
• Set up and manage supplier payment process
• Enter payroll information of your staff
• Manage monthly pay disbursement process along with statutory
compliance like TDS, PF, ESI deduction etc.
• Track advance payments made to staff
• Bank reconciliation
• Reconcile credit card transactions
• Correct any errors and write up adjustment entries
• Fixed assets accounting (from initial cost recognition to assets retirement)
• Fixed assets tagging
• Fixed assets register
• Physical fixed assets verification
• Impairment analysis
• Asset management and reporting
• Inventory management
• General ledger Reconciliation
Software currently used in Accounting services are:
• For Indian clients
o Tally(allversionincludingPrime) o Busy
o SAP
• For Australian clients
o Accounts Right
o MYOB Essential
o Xero
Benefit to your organization
• You don’t need to hire full time employees
• You don’t have to bother about legal compliances like PF, Gratuity etc.
• You don’t have to pay for un utilized time of the staff as you will be paying
on the basis of “Pay peruse”
• You don’t have to worry about managing your accounting in the absence
of your staff as we will have enough backup resources
• You will be able to focus on more strategic planning
Setting up Internal Control Procedure to Minimize Risk of Fraud
• Design and implementation of end to end “procurement to pay” procedure.• Design and implementation of end to end “Order to Cash” procedure.
• Design and implementation of payroll process
Benefit to your organization
• Above three processes would cover around 80% of your overall transaction in the organization leaving no or minimum room for any fraud
Financial Planning & Analysis(FP&A)
Industry Specific Standard Reports / Matrices (including customized ones)
• Income and expense / profit and loss statement (with key performance matrices)• Balance sheet with key focus on major exposure areas.
• Cash flow statement with highlighting major sources of cash inflow & outflow
• Monthly balanced score card which provide key matrices around your operations such as:
o Sales performance by:
▪ Sales personnel▪ Key customers
▪ Key products
▪ Key geographical regions
o Daily sales out standing(DSO) by above parameters
o Average Sales Price and their movement over a period of time helping you in analyzing competition from peer groups/competitors
o Purchase cost comparison by
▪ Key vendors▪ Key products
▪ Key geographical regions
Daily payment out standing(DPO)
o Average purchase price and the ir movement over a period of time
helping you in analyzing economies of scale achieved
o Inventory
▪ Reporting of Slow moving or dead inventory
▪ Economic Order Quantity
▪ Inventory turnover will help you analyzing efficacy of your operating cycle
Other Reports
o Key Utilization matric (employees,machinery and othe roperational assets)
o Return on investment and pay back period matrices
o Break even point
Key Benefits to your organization
o Balance score card will provide you with all key matrices on one page which will help you in holding grip around key operational aspect of your business.o Monthly report will provide you with key matrices around your organization like Sales, Profit, Average Sales price of your product etc.
o Month on Month variance analysis will provide your information about key operation area where you need more focus like sales variance report will provide you information about which product/geography is performing well as compared to previous month
o You will be better equipped in making right decision at right time.
Monthly Forecast - P&L and Balance Sheet
o Design Forecasting modelo Monthly Update forecast numbers based on the discussion with Key people in your organization
o Provide out look summary of your business Benefit to your organization
o Fore cast report will provide you be forehand information about your sales/performance
o Beforehand help in taking key decision which will help your future performance
o Provide you key focus point for up coming months
Periodic Budget or Target Setting Procedure
o Setting up your baseline by following historical trending or with Zero base budgeting approach.o Help Defining target for new fiscal year considering previous baseline
o Monthly reporting of you business performance against targets
o Help identifying performing and/or non performing units/products/functions in your organization.
Benefit to your organization
o Provide baseline for comparing your actual performanceo Help driving entrepreneurship behavior at all functional level o Increase accountability at all functional levels
Financial Modelling
o Pricing Model(for product/service pricing)o Forecasting model(Sales,P&L,Balance Sheet etc)
o DCF Model(Discounted Cash FlowModel for sharevaluation)
Benefit to your organization
o Reduced manual efforts with high level of accuracyo Easy to use-all above financial models are user friendly
o Facilitate quick price calculation due to change in variable cost
o Quick reference during price negotiation with customer or response to RFPs within tight timelines
o Provide base for comparison with your actual average price
o Help visualizing future trends by manipulating various variables in the models
Tax Related Matters
o Registration of your organization under various legislation like Income Tax, GST, EPF, ESI.o Guide in designing tax compliance transactions
o Filling of Tax Returns and o ther compliances under various statute
o Handling Income Tax Assessments cases
Financing Arrangement with Bankers
o Dealing with Bankers on your behalfo Monthly compliance as per financial arrangement agreement.
o Documentation for renewal of your CC/OD limits
o Preparing CMA data for fresh loan
o Supporting preparing project reports for term loans
o All other legal compliance around your outstanding loans
Benefit to your organization
o One stop solution for all your financials arrangement with banks and / or financial institutions
Company Law Matters (Under Indian Companies/LLP Acts)
o Incorporation of companies under companies act 2013o Incorporation of Limited Liability Partnership Firmunder LLP provisions o Filling of various company law related forms
o Filling of Annual Accounts
o Filling of Annual Returns
o Charge Creation
o Conversion of Private Limited company into Public Limited Company
o Change of registered office from one state to another state
o Appointment of directors/additional directors
o Preparation of minutes books
o Preparation of statutory register
o Compliance around Issue of preferential or equity shares via private placement / preferential allotment route.
o Transfer of shares
Benefit to your organization
o One stop solution for all your Companies Act related mattersOUR SECURITY POLICY
When you outsource any of your function be it bookkeeping or statutory compliance task, it must be in the trusted hands. Our team is highly qualified and professional. We understand the importance of security of ours/client’s data and/ or property (including IPR). Our security policy ensure we are fully compliant (at every point in time) on all aspect of security including data protection. We ensure that our staff get regular training on all security matters (including data protection). We do random checks to ensure all our internal controls are functioning well. We follow zero tolerance policy on any security breaches.
FACILITIES
o CCTV monitoring stations in all our offices
o 24/7 security guards at our building
o Finger print scan access doors to prevent entry of un-authorized
personnel
o A disaster recovery procedure in all our offices and your data is
backed up in secure servers.
o No client’s data retention on our employee’s desktop/laptop as we
encourage our employees to use secured one drive / cloud environment for client data storage
OUR NETWORK & SYSTEMS
o All our systems are access restricted by multiple levels of password protection
o Online data transfer system uses 256-bit encryption technology similar to ones used by online banking industry
o We use highly secured servers for our client’s data processing work which are sourced from global vendors with high reputation
o No printers, USB based pen devices and DVD/CD drives allowedon the work floor
o We are committed to fully comply on our client’s specific requirement
OUR PEOPLE
+ Our employees are highly qualified and trained from reputed institutions
+ We have a mix of Graduate/ Post Graduate or Professional degree holders like CA etc.
+ Our employees sign NDA (Non-disclosure agreement) before they start working on client data / environment
+ Our recruitment process ensures independent screening of our prospective employee before employment
+ We provide extensive data confidentiality training
+ Currently we have 5 employees but we have a seating capacity
that can accommodate 50 employees.
OUR CONFIDENTIALITY
We will serve you under full confidentiality agreement, we will ensure that your confidentiality to be protected. We will just work like an extension of your office. You or your nominated person will be the single point of contact for us. We will work from being behind the scenes as your trusted partner. Our agreements comprehensively cover this and you are ensured your 100% peace of mind.
OUR CURRENT CLIENTELE
- Our Indian client are operating in following industry or sectors
▪ Oil and Gas
▪ Packaging Industry
▪ Industrial raw material
▪ Food processing
▪ Financial services (NBFCs)
- Our Australian clients are operating in following Industry or sectors
• Hotel and Restaurants
• Travel Agents
• E-Commerce
• Medical and other support services
OUR CURRENT FEE MODEL
We are flexible in terms of fee structure. Our moto is to provide best class services at right cost of delivery to our client. We believe in maintaining long term relationship with our clients. Currently we operate under following fee terms with our customers.