Financial Statement Preparation

Korean entities (corporations) are required to prepare and submit financial statements when they file yearly tax returns. For some cases, even if it is not required by Korean laws, a company would need to submit the financial reporting to its parent company in abroad.

We have more than 10 years’ experience in financial reporting services to foreign-invested companies in Korea, and we possess the technical skills and broad knowledge required to assist in the preparation of timely and accurate financial statements.

Bookkeeping & Outsourcing

bookkeeping services

Korean Corporate Tax Laws require that every Korean company record their accounting using the double entry method and enter them into a computerized accounting system. Double entry bookkeeping refers to recording every single transaction into “debit” and “credit” entries. Financial statements such as balance sheet and income statement are a summary of these entries. Korean companies must submit financial statements to the tax office at the year-end.

Our Bookkeeping Service include:

  • Input all financial transactions including accruals using Douzone system;
  • Maintain clean and accurate accounting records in compliance with Korean Tax Laws;
  • Preparation and filing quarterly VAT return to the tax office;
  • Preparation of financial statements in English at every fiscal end; and/or
  • Preparation of periodic (monthly/quarterly/yearly) financial reporting to foreign head quarter.

 

outsourcing services

We provide all the supporting services to companies for important functions, which may not be the core competencies to the companies. Especially for small companies, outsourcing to professionals will save not only money but time and risks.

Our Outsourcing Service include:

  • Corporate secretarial and administration;
  • Temporary staffing of accounting personnel;
  • Cash management and treasury functions;
  • Assistance with electronic tax invoicing;
  • Arrangement of payments to vendors/clients/employees; and
  • Any accounting/tax/administration matters your company needs assistance.

Contact an expert today

FREE INQUIRY NOW