Logiframe AAS Profile
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The document discusses the accounting challenges faced by Southeast Asian companies in recent years due to changes in technology, standards, and regulations. It introduces Logiframe as a company that provides accounting services and solutions to help clients address these challenges. Logiframe offers statutory bookkeeping, accounting advisory, audit management, accounting technology consulting, and learning and development services. Its goal is to help clients improve efficiency, compliance, and financial reporting through outsourcing and advisory support.
Logiframe AAS Profile
- 1. Foreword South East Asia accounting landscape has been challenged and changing continually for the past 5 years. Challenges which Indonesian companies faced from adjustments with accounting information systems, new technologies, knowledgeable resources, taxation regulations, to changing of accounting standards (IFRS convergence), increasing expectation from local and international investors for a comprehensive financial reporting. These challenges and changes applies to all company management. The wide implications of these changes have created new challenges for management of big corporations to well funded and proven startups with prominent investors. Logiframe is ready to support you to deal with the exceptional challenges and changes. With our global network team from Indonesia, Singapore to Philippines, support tools and guidance, Logiframe has the breadth and depth of knowledge and technical expertise to help. Here are a few of the services we can help you with: • Statutory accounting and bookkeeping compliance • Accounting technology consulting • Audit management • Managing accounting change • Accounting advise and support related to transactions • Learning and development Statutory Accounting and Bookkeeping Compliance Rapid globalization, new developments in regulation, changes in accounting standards and increased demands from tax/ revenue authorities for greater transparency on tax and accounting structures and records are all increasing the burden on accounting, finance and tax departments. If this is your situations? • Your accounting and finance functions are under pressure to provide more and better reporting and compliance in an ever shorter time frame with fewer resources? • Your accounting, finance and tax departments often spend a disproportionate amount of time on routine compliance and compilation activities, rather than focusing on higher value activities such as core business support, strategic tax planning, quality and risk management and process and technology improvement? How can we help you? Logiframe offer outsourcing statutory and bookkeeping services to our clients. We can help you to be more consistent, more efficient and more cost effective in many ways to meet your compliance obligations and we keep a close watch on some critical Financial Statement compliance and bookkeeping processes. Our statutory and bookkeeping services are consist of the following: • Monthly financial statements preparation • Annual financial statements compliance • Financial accounts are comply either by local accounting standards or IFRS Accounting Advisory Services Helping you solve complex accounting and financial reporting challenges
- 2. Accounting Technology Consulting Logiframe partners with leading technologies in accounting, ERP, and database from SAP, Microsoft, Oracle, and Xero. As companies continually growing in number of transactions, adding new business processes and complexity, the use of these technologies other than reducing response time for business intelligence and analytics is for timely and valuable accounting reporting. These technologies have been the core engine to stay leading in competition. Logiframe provide Accounting Advisory Services works side-by-side with Technology Implementation and Enhancement Services. If this is your situation: • Your accounting and financial reporting is not running LIVE • Your organization struggles to generate timely reports out of transactions • You have limited finance function to do business analytics on-time to analyze hundreds and thousands of transactions • Group reporting and consolidation process is not organized and not reported timely • Investors are requiring your company to prepare a comprehensive financial reporting for your business How can we help you: Logiframe has the knowledge and technical expertise to assist organizations like you that require high quality coordinated services between accounting and technology to deliver high quality financial reporting. Logiframe provides the following services to help you at the intersection of business and technology: • Finance and accounting functional support • Accounting standard convergence application • Accounting advisory for customized-structured and complex enterprise technology setup and accounting data migration • Finance and accounting technology performance improvements Audit Management Management has one important agenda that is maintaining internal control running properly throughout business processes. Implementing internal control may not be as robust as required especially in a fast running business. Logiframe helps companies to investigate on these not notified discrepancies along the live of the business operations. There are an increasing number of risks facing businesses from many areas of operation. If poorly managed, any of these risks could results in fraud and lost trust between company and its stakeholders. Logiframe team acts independently and report directly to company top management. If this is your situation • You notify a fraudulent act in part of your division/ subsidiary which its financial implication will be significant • Your internal control need to be reviewed and test over its effectiveness towards financial reporting • You would like to have a co-sourcing partner specialized in accounting co-running with your internal audit function How can we help you? Logiframe deploys professional experienced in financial auditing, financial accounting, and internal control assessments. It can provide you with the ability to tap into specific skill sets in identifying risk in financial reporting. Logiframe provide the following services for audit management: • Perform audit with specific objectives outlined from top management • Co-sourcing with your internal audit function to test effectiveness over internal control to financial reporting • Co-sourcing with your internal audit function as accounting specialist or on accounting compliance monitoring Managing Accounting Change There are continuously numerous change of accounting standards to accommodate business and economic situations. The implementation of these accounting changes throughout an organization may require significant time and resources. Some of these changes are transformational in nature and may impact the entire organization (systems, processes, controls, record keeping, performance measurement and results, communication). Companies can understand better the change of the continuous developments in accounting to better manage your accounting and financial reporting. If this is your situation • Your organization struggles to interpret the accounting standards to your daily accounting operation • You are required to modify your accounting and reporting system to deal with the new accounting policies or with new regulations mandated by the regulators • There are inconsistencies between current accounting policies and new accounting requirements • Your accounting policies does not give investors or analyst the best way to understand your ongoing business • You have limited accounting resources and would appreciate to have support from accounting specialists Or you have few challenges in the following accounting areas: • Business combination accounting • Consolidations / joint venture formation accounting • Fair value assessments • Income tax accounting • Leasing • Restatements • Revenue recognition How can we help you? Logiframe's Accounting Advisory Services practice is well positioned to help you implement new accounting standards. Logiframe professionals can provide timely advice on the impacts of accounting changes, assist you in the development of an implementation roadmap and conduct technical training sessions to equip your team with the knowledge to navigate new standards successfully. Logiframe provide the following services to help you manage accounting change: • Preparation of technical accounting papers with robust arguments and practical insights that can support your position towards preferred accounting treatments • Assist your team with accounting functions for complex accounting matters such as business combinations, share- based compensations, financial instruments, cost accounting, etc. • Independent accounting adviser through a retained advisor • Diagnostic review of current business processes, systems and controls • Assisting in assessment, support functionality in design and implementation of financial accounting and reporting processes, systems, and controls • Assist your team in the development, review, or improvement of chart of accounts, accounting manuals, and standard operating procedures • Benchmarking of policies with the industry practice.
- 3. Accounting Advise and Support Related to Transactions In addition, there are more challenge to complex business structure and transaction changes. Changes arisen from market events such as business structure, taxation, IPO/debt offering, joint-venture, business combination, and more. What situations will you face? When coming up with business transactions, you often find uncertainties which must be dealt with. Questions like the following will arise: • What are the accounting and financial reporting implications of the structured business transaction? • Is the transaction structured in the most effective manner? • Are there other accounting alternatives that may reduce uncertainty of profit or loss? • What is the fair value accounting? Would this result in an unforeseen dilution of earnings in current or future situation? • How should a goodwill is accounted and allocated over business combination? How can we help you? Our strength is the wealth of accounting experience we have in helping our clients manage these complex events. From our extensive professional and technical resources, we provide the following services: • Accounting advice for structured and complex transactions • Comments on accounting policy applied in financial models, forecasts and budgets • Accounting policy review. Learning and Development With the rapid developments in accounting, standards and regulations, technologies, and industry practices, companies need continuous training in order to keep abreast of the changing environment of accounting and financial reporting. Training is better done by professionals who not only know the conceptual facts but also have experience of applying them. How can we help you? We provide training services to help you with: • Specific IFAS and IFRS training • Basic accounting training (e.g. Introduction to Accounting, Revenue Recognition, Accounting for Fixed and Intangible Assets, and more) • Advance accounting training (e.g. Accounting for Business Combination, Accounting Consolidation, Employee Benefits) • Basic and advance technology related training on finance and control function (e.g. Microsoft Dynamics NAV/AX, SAP, Xero). PT Theta Logika Sahabat Indonesia Indonesian Stock Exchange Tower 2, 17th Floor Jl. Jend. Sudirman Kav. 52-53 Jakarta 12190, Indonesia © 2017 PT Theta Logika Sahabat Indonesia. All rights reserved. PT Theta Logika Sahabat Indonesia may sometimes refer to Logiframe or Logiframe Indonesia, it is a one single entity. Logiframe Indonesia Accounting Advisory Services Contacts: Wienanto Tanuwidjaja wienanto.tanuwidjaja@logiframe.com Diego Supriyadi diego.supriyadi@logiframe.com