31.05.2022
If you are in the real estate and construction industry you know that deals are often quite complicated, and so is the actual accounting for this industry tending to be very technical and tedious. The construction and real estate industry differs in many ways from other types of businesses. These industries often require investors or financial institutions services as well as builders, mechanical and electrical contractors, developers, brokers, finishing contractors and many more.
It is important for real estate and construction companies to stay organised throughout and have strict record keeping rules. There are many different scenarios and accounting implications in this industry such as whether you are developing a property to sell or keeping it as an investment, whether you own a property and get rental income out of it, and so on. Property is a common feature in many organisational operations for various reasons be it because the company holds property for capital appreciation purposes, or because one is constructing buildings, as well as a company could be leasing a property or renting out one. For this industry there are certain key rules, accounting policies and requirement of the IFRS and GAPSME frameworks which must be applied. Benefits of good accounting is also that your file will be prepared for the tax return and audit.
As construction is one of Malta’s largest sectors, we also understand that it is a complicated one. Our company can provide industry-focused real-estate and construction bookkeeping and accounting services that can help contractors and property companies to accomplish goals faster. We can work with you to ensure you are maximising the value of your assets whilst ensuring long-term profitability, cash flows and income tax minimisation. Our knowledge will give insightful solutions for your challenging business.
Contact us today for an accounting quote for real estate and construction companies. Get in touch with a professional accountant to fulfil your real estate and construction company accounting needs based on the type of your business. Send an email to Conrad Meli on cmeli@accountingservices.com.mt.
