About Accounting & Auditing

1. What is the cost for arranging Accounting and Auditing on our behalf?
BBC will quote based on the number of business transactions and total sales turnover of the fiscal year. Our price will include service in the following areas:
- Preparation of financial statements including Profit & Loss account, balance sheet, trial balance and general ledgers
- Arrangement of auditing of the account books with a practicing CPA
- Preparation of audited financial statements
- Computation of profit tax
- Completion and filing of Profit Tax Return
- Printing and delivery cost of the required documents to Inland Revenue Department (not included courier cost of documents between you and BBC)
Express service can be provided at a premium.
2. In general, how long does the auditing process take?

It generally takes about 3-4 months from confirmation of the service request. However, the exact time might differ depending on the comprehensiveness & completeness of information and documents provided and the responsiveness and time taken for documents confirmation and sign back.
3. How fast is express service?

Express service speeds the procedures up to around 4-6 weeks (including preparation and completion of the final audited financial statements). Still the exact time would be affected by comprehensiveness & completeness of information and documents provided and the responsiveness and time taken for documents confirmation and sign back.
4. What documents and information do I have to provide for the Accounting and Auditing services?

Clients have to provide bank statements, sales invoice, purchase order, invoices on general expenses, inventory list, fixed assets, tenancy agreements, investments etc.
5. What kind of expenses are deductible?

《稅務條例》第 16(1)條規定，在確定任何課稅年度的應課稅利潤時，為產生該應課稅利潤而招致的一切支出和開支，均須予以扣除。
另外可參考保存業務紀錄須知:
https://www.ird.gov.hk/chi/pdf/c_51c_pam.pdf