Accounting

Specialized Accounting for Tourism, Development and Real Estate

Due to the vast variety and complexity of operations within the Real Estate and Tourist Developments, there are certain specific regulations in regards to:

a) Its accounting and the presentation of financial statements (Mexican and International Financial Reporting Standards, as well as US GAAP)b) Compliance of fiscal regulations
c) Administrative processes to control income and costs.

Terán Rojas & Associates is sensitive to these needs and has specialized in such areas, aiding its clients in the establishment of the ideal controls, processes, and politics of real estate development, from the start-up to the continuous control of operations of a business aimed for the tourist industry.

From our experience, we have detected that a key control point is the establishment of solid communication between the engineering, accounting, and legal areas. In profitable businesses, the development of effective communication channels and administrative controls are a common characteristic; both situations leading up to preventing unnecessary costs or risks. Our team of professionals is ready to assist you in implementing and upgrading administrative, financial and fiscal policies, as well as the necessary and specific accounting procedures for this kind of industry.

Our services include:

• Specialized Accounting.
• Establishment of accounting and administrative procedures.
• Supervision of accounting areas.
• The connection between accounting and engineering areas.
• File revision with suppliers, payment schedule.

Financial Statement Preparation according to US GAAP

In recent years, as part of globalization, the applicable Mexican Financial Reporting Standards have been modified when preparing financial statements, in order to standardize with international accounting standards. However, today there are still differences between the two, which in some cases can lead to a significant impact in the financial information that is reported.

Given the situation, Terán Rojas & Associates is aware that for the foreign investor it is of vital importance to have an advisor, who, based on the financial information prepared according to the Mexican accounting standards, has the necessary knowledge to prepare financial statements according to US GAAP or other international standards, a situation that will allow him to consolidate such financial statements with the businesses of the place where he is reporting from. It is worth mentioning that our team has ample knowledge in financial statement translation according to US GAAP and international accounting standards.

General Accounting Services

Our support has been key to accounting processes in businesses, assisted by specialists in documentation and accounting register and clean up.
Our staff has the experience and critical thinking to optimize accounting work. The services we offer are:

• Accounting and tax calculation
• Account clean up
• Settlement preparation
• Support in documentation filing

MAS (Mobile Accounting Service)

We are pioneers in what we call MAS (Mobile Accounting Service), offering accounting and administrative services that meet our clients’ needs, doing our job either from our premises, making the most of our infrastructure, or in situ; it will all depend on the client’s operations.