As businesses navigate the complexities of today's financial landscape, accounting has become increasingly challenging for many companies and business leaders. Accurate financial reporting, compliance with accounting standards and regulations, and effective risk management are essential to the success of any organization. However, achieving these goals can be difficult, particularly in the face of rapid technological change and the increasing complexity of financial regulations.
Galaxy Consulting Group's Accounting Advisory Services can help businesses address these challenges by providing the following services:
Technical Accounting
Galaxy Consulting Group offers Technical Accounting Services that encompass a range of solutions to help businesses navigate complex accounting issues. Our team of experts provides guidance on the following major technical areas:
ASC 606 Revenue Recognition
ASC 842 Lease Accounting
ASC 805 Business Combination
ASC 280 Segment Reporting
IFRS <-> US GAAP conversion
and other technical accounting areas, ensuring compliance with accounting standards and regulations.
Our Technical Accounting Services are tailored to the unique needs of each client, and our goal is to deliver effective and practical solutions to enhance financial reporting accuracy and transparency.
Financial Reporting
Preparation and review of financial statements in compliance with Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS).
Implementation of new accounting standards and regulations, such as revenue recognition and lease accounting, as well as the evaluation and improvement of internal controls over financial reporting.
Development of financial analysis and reporting tools, such as dashboards and key performance indicators (KPIs), to help businesses make informed decisions based on their financial data.
Audit Readiness
Galaxy Consulting Group provides comprehensive Audit Readiness services to help businesses prepare for financial statement audits by providing support during the audit process, and managing the overall audit process on behalf of clients. Our team has the expertise to work closely with external auditors, responding to their requests and ensuring that all necessary documentation is provided. By partnering with us, clients can have peace of mind knowing that their audit process is in good hands, allowing them to focus on their core business operations.
Our team of experts can assist with
the design and implementation of effective internal controls over financial reporting,
documentation of accounting policies and procedures, and
the identification and resolution of potential audit issues.
We work closely with our clients to ensure that they are fully prepared for their upcoming audit, reducing the risk of financial statement errors and enhancing overall audit efficiency.
Our services include but are not limited to
performing risk assessments,
evaluating existing control frameworks,
providing remediation assistance,
conducting pre-audit readiness assessments, and
conducting mock audits.