We partner with businesses to provide scalable accounting solutions to meet the needs of our clients whether it is acting as accountants, book keeper, treasurer or business advisors, our solutions are tailor made and delivered through a team of experienced and solution orientated resources.
OMC Partners offers a full range of accounting and financial advisory services to businesses. We provide scalable accounting solutions to meet the needs of our clients whether it is acting as accountants, bookkeeper, treasurer, or business advisor. Our solutions are tailor-made and delivered through a team of experienced and solution-orientated professionals.
Bookkeeping and accounting service
- Recording of transactions for all balances in the financial statements. This may include collecting customer invoices and employee expenses, recording taxes/ provisions with respect to various business transactions, maintaining general ledgers, supplier and vendor lists, bank statements, inventories, and book of accounts required by local and International standards.
- Our service methodology includes reconciliations of accounts between local books and corporate accounts and facilitating the integrity and accuracy of general ledger balances.
Financial Statement Preparation
- Preparation of financial statements and reporting packages for internal and external requirements with a focus on management, corporate, and statutory requirements. Our service methodology includes the conversion of financial statements to align with regional and /or global statutory requirements. (e.g local GAAP to IFRS)
Conversion from local GAAP to IFRS
- We have a proven IFRS implementation methodology developed from hundreds of projects we have performed in West and Central Africa.
- Our approach to IFRS Conversion leverages key lessons and success factors learned from prior IFRS projects; has been tailored based upon our significant knowledge of various industries and the financial accounting, reporting, and regulatory environments of our clients. Our services include:
- First-time adoption of IFRS – Conversion to IFRS from a National GAAP
- Impact Assessment /GAP Analysis between IFRS and National GAAPs
- Development of IFRS accounting policy manuals
- Re-aligning local charts of accounts to IFRS
Audit readiness service
- Our goal is to work with your team, to get you audit-ready as efficiently as possible. With our specialist knowledge of audit requirements and procedures, we are quick to assess your current state of readiness. Working with these outcomes, we then develop and implement a plan designed to help you achieve your audit-readiness performance goals.
Fixed Asset Management service
- We see efficient and disciplined fixed asset management processes as a key enabler to maintaining quality financial and management information. We assist in constructing or reconstructing a complete and accurate fixed asset register that is IFRS Compliant.
- Our service includes physically verifying and tagging all fixed assets, measuring and recording each asset with its corresponding carrying value and useful life, manage the data migration process, and diagnostics of fixed asset procedures and controls.
Account system set-up
- We help start-up businesses in the initial set-up of the full set of accounting books and records system including IFRS compliant chart of accounts, accounting policies, desk procedural manual for finance functions, and regulatory compliance assessments.