Sothertons Domain Accounting
The property industry has a number of specific characteristics that raise distinct accounting issues. The production and construction process is very long and the classification of an asset will differ depending on property developer objectives. As such, Sothertons domain accountants will implement accounting practices according to industry standards that would otherwise be unobtainable to small accounting firms.
Our domain and real estate accounting practices are designed to maximise business profitability via property accounting industry standards. Sothertons Chartered Accountants is not divided along traditional accounting practices, providing experienced accounting services based on the property, real estate and construction industry.
A Sothertons property accountant will work with you to expand property accounting opportunities and maintain long-term profitability.
Accounting for Property Developers
Property developers will develop properties for a variety of reasons; each to ensure long-term profit. A property can be developed for developer exploitation, capital appreciation or rental earnings. As properties can be classified as property, investment, equipment and inventory, accounting methods will differ depending on intended use.
A Sothertons domain accountant will analyse your property structure, finance and provide access to internal control systems, ensuring your property accounting is of a high standard.
Our domain accountants will observe, devise, manage and analyse:
- feasibility studies
- property structure
- internal control systems
- trust accounts
- BAS
- current industry information
- back office
Accounting for Construction
Accounting practices for property development and construction are both onerous and complicated. Recognition of revenue and costs to the accounting period make it difficult for developers and construction businesses to understand profits on their property.
Although laws may change, Sothertons are on top of the rapidly changing business environment. Our qualified industry accountants also understand the construction and litigation process so we can assist with conflict support if necessary.
Our domain accountants will:
- deliver strong director involvement
- manage business audits
- ensure accounting information is structured and readable
- prepare finance packages for proposals
- provide access to top level accounting information and benchmarking
Accounting for Franchises and Franchisees
As a large, established chartered accounting firm, Sothertons has the capacity to support franchises and franchisees in their business endeavour. A Sothertons domain accountant will attend to company formations, maintain statutory registers and records, prepare annual returns and can assist with building a franchise model and brand.For both franchise operators and franchisees, Sothertons accounting practices continue to comply with current laws. Be it internal control, industrial relations or taxation, our domain accountants will keep updated with changing legislation to ensure your franchise is legally managed.
Our property accountants can:
- build a franchise model and manage the brand
- maintain statutory reports, registers and records
- prepare annual returns
- provide back office and accounting services
- provide tax reporting
- undertake BAS preparation
- ensure cost controls and overheads are effectively managed
- offer trust account audit
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