Services

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Accounting

Accounting Service

Our Company provides overall accounting service to our clients operating in varied industries (etc. IT, manufacturing, trading, real estate, media and financial service industry). 

Due to our international qualification and experience we provide accounting and administration service for numerous Hungarian subsidiaries, branches of multinational groups starting at the establishment through the daily financial administration and accounting routines ending in the annual closing procedures, preparation and submission of the financial statements as well as the group consolidation reporting package prepared under national and multinational accounting principles (GAAP).

More than ten-year professional experience, extensive and up-to-date knowledge of our colleagues altogether ensure the exact accounting and administration of our clients’ transactions of operation fully in accordance with the relevant accounting and tax laws and regulations. Due to our up-to-date accounting and administration service our clients are informed and reported promptly and continuously about their financials. We maintain continuous communication ensuring our prompt availability for our Clientele.

We serve as trustful representatives of our clients towards authorities and provide help in revision, self-revision and compilation of resolutions towards tax authority and any other relevant bodies. We help our clients to focus on their business activities by the relief of such burdens.
Our colleagues treat the information gathered during our service provision with high confidence and privacy.

Accounting Advisory

A company faces numerous business opportunities and challenges during the operation. Preliminary to the execution of a transaction and entering into any agreements, liabilities or contingents it is very important to know not just the business nature, but the tax and accounting treatment of the transaction which can have significant impact on the profitability.
We provide accounting advisory service on ad-hoc and continuous basis in order to identify all business opportunities inside and outside of the business. 

Preparation of Reporting Package

Our professionals have been preparing and reviewing financial statements and group consolidation reporting packages under national and international accounting principles for more than a decade for multinational and stock exchange registered clients.


Our service includes design and implementation of such consolidation reporting structure by the harmonization with the current financial system in order to provide exact and complete information for the shareholders.
During the preparation of reporting packages under IFRS/US GAAP we focus on identify of interpretation of adjustments between national and international accounting principles in order to enable the management to make proper business decisions and maximize the profitability of the company.

Preparation of Financial Statements under IFRS/US GAAP

Recently in Hungary the number of companies preparing financial statements under international accounting principles (GAAP) have been growing especially the increasing number of companies / group of companies registered on stock exchange.
Our professionals have gathered extensive knowledge and experience in preparation of such group consolidation reporting package under IFRS and US GAAP.

Consolidation

Under the Hungarian Accounting Law, exceeding a specified size companies are obliged to prepare consolidated financial statements which requires specific knowledge and experience. Our professionals with their skills, knowledge are experience in consolidation is at our clients’ service including preparation of consolidation accounting policy, developing consolidated ledger and trial balance, identifying consolidation adjustments, preparation of consolidated financial statements, footnotes and business reports.


Our methodology based on international practice ensures our clients’ financial and accounting department to significantly decrease the burden of consolidation thus ensuring to meet deadlines.

Interim financial statements

In case of numerous transactions companies are obliged to prepare interim financial statements as at a date other than calendar year end. We prepare interim financial statements for advance payment of dividend, mergers and acquisition purposes for our clients under national and international GAAS.

Administration service and seat provision

In order to make our clients daily business routine easier we provide full service including financial administration and providing seat at our office making available for authorities, bodies and business partners as well. We are ready to provide financial administration service at our clients’ office or place outside Benefit Consulting Ltd’s office specified by the client as well.

Training

Our professionals with national and international knowledge and experience keep training at a place specified by the clients for smaller through larger group of employees maintaining their knowledge in accounting and tax, especially IFRS trainings in order to be prepared for their shortly expected implementation.
Tax

Preparation and submission tax returns

We prepare and submit tax and contribution returns, declarations and relating documents for our clients on a continuous, or ad-hoc basis ensuring to meet the ever-changing requirements of relevant tax laws and regulations. We prepare revision and self-revision returns and represent our clients toward authorities and bodies on a professional and discrete manner.

Preparation and submission of tax returns of domestic individuals and expats

We prepare and submit tax and contribution returns, declarations and relating documents for domestic individuals and expats on a continuous or ad-hoc basis ensuring to meet the ever-changing requirements of relevant tax laws and regulations. We prepare revision and self-revision returns and represents our clients toward authorities and bodies on a professional and discrete manner.

Tax Advisory

Besides advisory relating to our client’s daily and regular tax issues we help them determining the appropriate legal form of their business by preliminary identification and review of their business operation in taxation point of view.
Moreover we ensure our clients (individual or legal entities) realize their ad-hoc, specific transactions and tax issues meeting the requirements of current and relevant tax legislation. 

Tax Due Diligence

We perform tax due diligence of the company to be acquired or planned to be sold with general or specific scope identifying tax relations and spotlighting tax risks.
Our professionals are at our clients’ service to manage and mitigate such risks identified. 

Preparation of Transfer Pricing Documentation

Based on Act on Company Tax and relevant Degrees transactions among related parties are to be supported by transfer pricing documentation, which tax authorities are highly focusing on during tax revisions.
Our firm prepares transfer pricing documentation of transactions between national and international related parties fulfilling all requirements of relevant regulations and methodology expectation of the tax authority (NAV). 

Returns of Environmental Duty

Subsequent to processing all relevant information of our clients our firm identifies tax relations and liabilities relating to environmental issues and recultivation, and provides relating advisory or prepares relevant tax returns, if required.

Tax & Legal Representation Towards Authorities

Based on their years of experience our professionals are at our clients’ service as professional representatives towards tax or other authorities, governmental and supervisory bodies.

Training

Our professionals with national and international knowledge and experience keep training at a place specified by the clients for smaller through larger group of employees maintaining their knowledge in accounting and tax, especially IFRS trainings in order to be prepared for their shortly expected implementation.
Finance

Business Plan and Financial Model

Short and long-term based financial and business plan represents an essential basis of a successful entrepreneurship giving a supportive basis for decision-making for the management and shareholders.
Business plan represents a basis for internal operation and external parties either relating to the entity’s prospect of operation, application to bank financing and private equity / venture capital investors either.
We prepare complex business plan including balance sheet, income statement and cash-flow plan with footnotes as a basis for a successful start and project execution for potential development and company management.

Financial and Controlling Report

We prepare budget vs. actual analysis of our clients’ financials in order to enable the management or shareholders to be informed and be up-to-date about the current and prospective business operation and financials.
We prepare the analysis based and fully in accordance with our clients’ financial information system and operational mechanism.
Our controlling report advisory service, if required, can be extended to all areas of the entity spotlighting the difficulties of operation, identifying required measurements, aiming to improve the company with management reports.
Financial and controlling system is inevitable for the entities if the management and shareholder are separated or entities with more groups of shareholder interests by informing them from independent and reliable source of reporting line. 

Transaction Support

Our transaction support service includes mainly acquisition, sale and equity transaction advisory, secondly developing the transaction strategy, preparation of target entity and compilation of the information memorandum, identifying potential acquirers and partners, preparation of transaction and share purchase agreement with respect of our client’s interest.
Typical transactions are meant to be the separation of management and shareholders of a Hungarian company with long professional market existence and operation including involvement of financial investor or partial/complete sale of the entity.

Group Structure Advisory & Development

During the realization of business possibilities development of an optimized group structure concerning tax and legislation matters is a key to success.

Subsequent to the identification of current and new business potentials and opportunities we design and develop a group structure in accordance with relevant regulations concerning accounting and tax regulations and financing possibilities. 

Management Consulting

Our management, finance and business experienced professionals provide complex management advisory service aiming to review the status and structure of our clients partially or entirely, determining the aims and missions to be achieved and, if required, tracking and evaluating business operation and procedures.
We provide continuous and ad-hoc management consulting service to our clients in order to identify and manage all internal and external possibilities of the entity.

Project Management

We help our clients developing the conception of achieving business potentials, identifying financial and feasibility terms, execution of projects and future operation, by informing and providing those involved in the project by up-to-date accounting, financial and controlling data and reports.

Venture Capital / Private Equity Advisory

In order to maintain a sustainable development of business operation an entity requires optimized equity structure which amount of equity differs per each industry and at each cycle of an entrepreneurship.
We help our clients determining the amount of capital required to start up their entrepreneurships and to develop and execute their projects or identify the potentials to involve venture capitals and carrying out their project and business at the highest professional standard.
Our professionals ensure our clients to enforce their interest in and subsequent to a capital venture transaction with the help of our advisory.

Bank Financing Support

We provide full service regarding the review the creditability of the company, the identification and execution of actions to improve it. We help preparing and submitting the credit application documents and selecting the optimal financing offer of financial institutions and banks.

EU Grants & Incentives Advisory

With the cooperation of our strategic partner office we identify the most suitable grants notice for our clients, furthermore we help compiling the grants application documentation and monitoring activities of grants won. Our partnership’s national and international professional experience and knowledge has been extended to EU grants and incentives to be applied in Hungary and in Brussels either. 

Audit

Audit of Statutory Financial Statements

An auditor’s work represents not just an audit obligation of the financial statements as per the relevant laws and regulations, but ensures the source of reliable and complete information for the parties interested (i.e. shareholders, creditors, etc.) about true and fair financial status of the company.
Our professionals with national and international auditing experience and with our Hungarian economic tailored and developed methodology ensure the smooth and barrier-free audit work, while provides reliable and complete information for shareholders. 

Audit of Financial Statements under International Financial Reporting Standards (IFRS)

Our professionals with national and international auditing qualification and experience perform the audit of financial statements and group consolidation reporting packages under IFRS based on the International Standards on Auditing (ISA) ensuring the fair, reliable and complete reporting to the foreign shareholders or investors. 

Audit of Interim Financial Statements

Besides the audit of annual statutory financial statements we are also specialized for audit of interim financial statements (i.e.: merger or isolation balance sheet, interim balance sheet for dividend advance, etc.) 

Audit of Special Financial Statements

Besides the audit of annual statutory financial statements we are also specialized for consolidated financial statements and special interim financial statemetns. 

Appraisal and Audit of Contribution in Kind

Besides the audit of annual statutory financial statements we are also specialized for contribution in kind appraisal. 

Financial & Accounting Due Diligence

Our professionals acquired thorough national and international knowledge and experience in agreed-upon review procedures regarding financial information under International Standards on Auditing No. 4400. We perform financial and accounting due diligence of the company to be acquired or planned to be sold with general or specific scope to identify accounting matters and financial risks.
Our professionals are at our clients’ service to manage and mitigate such risks identified. 
HR

Outsourced HR & Payroll Services

Based on our professional methodology we provide outsourced HR and payroll service on a continuous or ad-hoc basis. We provide full palette of payroll service including related accounting matters and treatments, submission of tax returns, representation towards authorities and bodies. Our professionally tailored HR and Payroll System and infrastructure are able to manage the ever-changing requirements of relevant laws and regulations enabling to perform outsourced payroll service accordingly to our clients. 

Implementation and Optimization of Cafeteria Plan

Implementation of an optimized and tailored Cafeteria Plan helps a cost-effective operation of the company as well as higher satisfaction of employees enabling them to realize significantly higher post-tax income from their gross salary and wages. Our professionals help utilizing the maximum benefit of Cafeteria Plan tailored for our clients in accordance with the relevant laws and legislations.

Social Security Service & Advisory

Our qualified professionals are at our clients’ service based on continuous or ad-hoc advisory engagements ensuring that the employees’ social security structure is developed and maintained fully in accordance with the relevant laws and regulations.

Complex HR Administration Service

Our professionals perform complex HR administration and advisory service. We perform all administration tasks relating to employee hiring and lay-offs and severances in accordance with the relevant laws and legislations and relating filing and archiving service. If required, we maintain continuous and active professional cooperation and representation towards employees and authorities on behalf of our clients.