Comprehensive Accounting Services in Jordan

Clear Solutions offers all your accounting needs in a computable manner and according to international standards, to help you make informed decisions and grow your business.

Precision and Reliability: We adhere to international standards to ensure the accuracy and reliability of your accounts. Exceptional Financial Analysis: Providing monthly reports and analyses to assist management in making informed decisions. Saving Time and Costs: Automated accounting solutions reduce time, effort, and operational costs.

What is Accounting?

The definition of accounting begins with defining its scope and objectives. Accounting encompasses multiple concepts, which can be summarized into three fundamental concepts:

  1. Managerial Function: Accounting is considered a project function within the administrative structure.
  2. Effective System: Accounting as a system among systems that contribute to project operation.
  3. Cognitive Science: Accounting as a science among specialized knowledge sciences.

These concepts converge to clarify the vital role accounting plays in recording, tabulating, and analyzing financial data to provide information necessary for strategic and managerial decision-making.

Nature of Accounting Activities

The nature of accounting activities reflects several dimensions that can be presented as follows:

  1. Service Activity: Providing financial services to help manage the project.
  2. Information System: Serving as a system to collect, process, and distribute financial information.
  3. Financial Reports as Outputs: Contributing to the preparation of financial reports as an output of the accounting system.
  4. Profession: Considered a specialized profession requiring knowledge and experience.
  5. Social Science: Studying the impacts of financial activities on society.
  6. Social Force: Influencing economic and social policies and decisions.

Required Accounting Activities

Preparation of accounting books and documents.

Identification of accepted accounting assumptions and principles.

Classification of financial operations into financing, revenue, and capital.

Measurement of financial operations through data collection, recording, classification, and analysis.

Preparation and delivery of financial reports to users for analysis and decision-making.

Functions of Accounting

Preparation of books, records, and suitable documents for the project.

Recording financial operations including revenues, expenses, liabilities, assets, and equity.

Management and handling of project assets, whether cash or equivalent, with oversight.

Preparation of business results reports, whether profit or loss during the financial period, and determination of the project’s financial position.

Provision of financial information for managerial or investment decisions.

Origins and Evolution of Accounting

Accounting has evolved significantly from its early days as a simple method of recording financial transactions to a comprehensive system crucial for business management and decision-making. Key points include the development of double-entry bookkeeping in the 15th century and the Industrial Revolution in the 18th century, leading to more complex accounting practices. Today, accounting serves as a tool for financial reporting, managerial control, and strategic planning.

Need for Accounting Services

Effective accounting is essential for:

Measuring profit or loss and understanding financial status.

Providing data for daily operational management and strategic decisions.

Assessing financial health and creditworthiness of businesses.

Accurately determining profits for tax calculation.

Analyzing financial information to guide investment decisions.

Importance of Accurate Accounting in Business

Accounting serves several categories, including:

Measuring project effectiveness and financial health.

Providing reports and information for operational control and progressive business development.

Assessing repayment capability and financial stability to lend and trust.

Accurately calculating profits for fair tax calculation.

Providing insights and advice based on financial data to develop businesses.

Fields of Accounting

  • Governmental Accounting: Managing and reporting governmental financial activities.
  • Tax Accounting: Determining taxable profits according to tax laws.
  • Cost Accounting: Controlling costs and providing data for decision-making.
  • Managerial Accounting: Providing management with data for operational control.
  • Audit: Examining financial records to ensure accuracy and transparency.
  • Financial Accounting: Recording and summarizing business operations.
  • Designing Accounting Systems: Developing suitable accounting systems for various business types.

Our Services at Clear Solutions

Clear Solutions is one of the best accounting firms in Jordan, offering a wide range of services including:

  • Computerized Accounting: Recording and classifying all business transactions in detail and by sector and activity.
  • Bank Reconciliation: Matching company records with bank data to ensure accuracy.
  • Loan Management: Supervising various types of bank loans and ensuring proper account management.
  • Periodic Reports: Preparing regular financial reports to keep management informed and well-informed decision ready.
  • Final Adjustments and Financial Period Closing: Ensuring accurate closure of all accounts at the end of the financial period according to international standards and tax law.
  • Inventory Management: Using continuous and/or periodic inventory methods to determine the cost of goods sold and the quantity of goods in stores (warehouses).
  • Accounts Receivable and Payable: Regular data for efficient management of collections and payments.
  • Payroll and Employee Affairs Management: Structuring (preparing) payroll disclosures in accordance with income tax law and social security regulations and monitoring employees through contracts of all kinds, vacations, bonuses, attendance, and all matters related to the department of employees.

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