Our firm offers a wide range of services to our individual and corporate clients. our clients benefit by getting personalized, and quality service that is beyond comparison. Below we have listed the services that we offer to our clients along with a brief description.

As the list below is by no means all-inclusive, please feel free to inquire about a service if you do not see it listed. If it is not a service we provide, we would be more than happy to refer you to a qualified professional.

We are actively involved in:

Assurance
Outsourcing
Tax compliance and planning
Corporate Advisory and Consulting

Assurance

Audit of business firms including limited companies,  trusts, educational institutes, societies andNGOs etc.
Audit certifications.
Internal audit co-sourcing / out-sourcing.
Management audits.
Special audits including cost audits.

Outsourcing

Our outsourcing solutions are grouped into the
following areas:

Bookkeeping and Accounting Services.
IT Solutions

Bookkeeping and Accounting Services

Our bookkeeping and accounting services offers small and medium enterprises (SME) owners an efficient and cost effective way of keeping track of their business activities. Our primary objective in providing this basic service is to help those businesses who otherwise do not have the internal resources or those who would like to substantially reduce their overhead by outsourcing. We utilize old world integrity with the latest computer technology to bring most affordable, efficient and trustworthy service. Our service will provide the needed comfort to business owners who can rest assure that their books are in good shape and in good hands.

Our firm provides a full range of cost effective accounting services including the following:

Carrying out the basic bookkeeping function includingpreparation of the:
Vouchers
Cash and bank books
General ledger
Trial Balance
Financial statement
Accounting system setup for SMEs

We set up a complete "in house" accounting system with full chart of accounts customized for your business for your bookkeeping task. We use the most popular accounting programs such as Peachtree, QuickBooks or our own specialized accounting software to facilitate the preparation of periodic financial statements for management control, at year end for tax return purposes or other needs will be substantially reduced.

Additionally we provide services as an outside controller. We are available on an ad hoc basis to oversee the work of your internal bookkeeper and accounting staff.

Payables management including recording your vendorinvoices and cheque writing.
Inventory accounting, management and reconciliation
Receivables management including preparation ofcustomer statements for collection, processinginvoices and recording of cash receipts and salesreturns.
Preparing periodic bank reconciliations
Computerized payroll services
Specialised accounting services including accountingfor gratuity, provident fund, pension fund and WPPFetc.

IT Solutions

Our firm has collaboration with a dynamic team of IT experts by the name of "Active Business Solutions" to offers a wide range of services across the entire IT spectrum to help clients achieve a competitive advantage.

When you choose Muhammad Farooq & Company's Solutions for your business, you will have one firm managing your technology needs, as well as your accounting and finance requirements.

You will no longer need to negotiate with a software vendor while simultaneously outlining your specific accounting and finance needs to a traditional accounting firm. At Muhammad Farooq & Company, our Software Solutions immediately supply the people, process, technology and information you need to manage and grow your business.

Key service offerings include the following:

Software and systems consulting
Customized business applications
Internet and Intranet Solutions
Web Design and Development
Consulting and Contract Services
Systems Integration
Networking Solutions
Development of IT Strategy and Contingency Plans
Development of Standard Operating Procedures
Data Entry
Imaging Solutions
Technical Services:
Hardware/software evaluation, purchasing and installation
Capacity planning
Performance tuning
Upgrading operating system
Conversion from and interfacing with other hardwareplatforms

Tax Compliance and Planning

Income Tax

Registration with the tax authorities including obtaining of the National Tax Number (NTN), Non profitorganisation registrations etc.
Obtaining of the tax exemption certificates.
Establishment of the pension, provident and gratuityfunds and their recognition / registration with the tax authorities.
Personal/firms/trusts/pension funds/corporate.
Compliance services including:
Advising for payment of advance tax.
Filing of periodical statements.
Preparation and filing of return of total income.
Review of assessment orders and advising on filing of appeals, if required.
Preparation and filing of appeals before the Commissioner of Income Tax (Appeals) and the Income Tax Appellate Tribunal.
Representations before field tax authorities, appellate authorities, Central Board of Revenue and the Tax Ombudsman.
Advisory services including minimising tax exposure      or increasing tax saving.
Refund processing.
Tax planning.

Prompt and effective taxation planning can enable taxpayers to limit their tax liability. Our team experience enables us to apply complex tax rulings and legislation to our clients and their business operations.

Sales Tax (Indirect taxation)

Over the past few years, the sales tax net has spread all over the economy which requires the provision of timely and effective business advice to help organisations plan and implement the required compliance measures. Keeping in view the above needs of our clients, the firm provides full range of indirect tax services which interalia includes:

Registration under the Sales Tax Act, 1990 and the Provincial Sales Tax Ordinance, 2000.
Filing of periodic statements.
Representations before the sales tax authorities.
Assistance in preparation and submission of replies in respect of notices.
Advisory.
Sales tax system evaluation and development.
Pre-filing audit.
Refund processing.

Corporate Advisory and Consulting

We offer consulting services in the following areas:

Incorporation services including:

Single member companies.
Private and public limited companies.
Associations not for profit under the Companies Ordinance, 1984.
Societies under the Societies Registration Act, 1860.
Trusts under the Trust Act, 1882.
Partnership under the Partnership Act. 1932.
Specialised companies including Investment companies, asset management companies, modarabas, venture capital funds, insurance companies etc. under the respective laws governing their formation and operation.
Advisory services in relation to the issue and transfer of shares and other securities.
Advisory in respect of public and private placement of shares.
Advisory and consulting in respect of the listing and delisting of shares and other securities from the Stock Exchanges.
Advisory relating to investments by foreigners and non resident Pakistanis including registrations with the Board of Investment – Government of Pakistan.
Advisory relating to the foreign exchange control under the State Bank of Pakistan Act, 1948.
Advisory relating to Royalty, Franchise agreements formation and registration under the applicable laws.
Compliance with procedural requirements for formation of companies under the Companies Ordinance, 1984 and specialised companies under their respective legislations and on-going secretarial formalities.
Representations before Securities and Exchange Commission of Pakistan, Registrar of Joint Stock. Companies, Stock Exchanges, Registrar Modaraba Companies and Modarabas etc.
Remuneration packaging including retirement benefit plans.
Planning and budgeting.
Inventory control and management.
Documenting the policies, systems and procedures in the form of standard operating procedures manuals including personnel policies and procedures.
Streamlining work and document flows.

Financial Advisory Services

Project studies and feasibility reports.
Project appraisals.
Small business consulting.
Due diligence.
Forensic audits/investigations.
Business and share valuations.