Bookkeeping Services
AL-TAX Studio is a full service Fiscal Office located in Tirana. We provide a range
of business services from bookkeeping to controllership services.
Our Fiscal Services are designed to ensure you have the information you require to
run a successful business. We offer the flexibility of full or part-time services on a
temporary or long-term basis.
Why Outsource Fiscal Services?
Depth of Outsource Services
 Our personnel have direct access to accounting & tax professionals.
 We provide financial support at all levels.
 We have people who can help fill your data entry needs and others with a skill set to handle
your most sophisticated merger and acquisition transactions. The key is to employ the
individual with the right skill set for the task at hand.
 We support you as you grow.
 We provide you with a higher skilled person on a part time basis until you have the resources to
fill a full time position.
Immediate Availability
If you don't have a current need for our services, please keep us in mind if a crisis occurs. We are
structured so that we can respond to immediate needs when unexpected events occur.
Are Accounting Services Right For Me?
The answer is YES if:
 You don't feel you can rely on your current financial reports to help you run your business.
 You have no one to fill in for your financial person if that person were unable to come to work
tomorrow.
 You don't feel that you communicate effectively with your accounting levels.
 You have the funds for one full-time person but the needs for varying levels of accounting abilities.
 You find that your vendors call you instead of your accounting staff to inquire about payment status.
 You are spending your day fighting financial fires.
RIGHT PERSON - RIGHT POSITION
 Do you have the right person in the right position?
 Are you spending too much time supervising your accounting functions?
 What level of accounting do you need? Do you know?
 Do you need a bridge until cash flow permits hiring the next level?
Bookkeeper/Data Entry
Recording cash receipts and checks written
Sales orders
Purchase orders
Accountant/Accounting Manager
Reconcile checkbook activity
Provide monthly financial statements
Accounts receivable collections
Accounts payable/disbursement decisions
Supervise bookkeeping & data entry functions
Controller
Design accounting procedures and system reports
Supervise the department
Handle communications and current reporting requirements with the bank
Manage your short-term and long-term cash flow needs
Provide vendor management
Oversee customer management/credit policies
Prepare the annual operating plan
Communicate financial results to owners
Chief Financial Officer
Design and work to provide the proper bank financing
Communicate key performance indicators and trends
Handle merger & acquisition opportunities
Evaluate equity transactions and owner equity protection
Long-term strategic planning and owner exit strategies
Help increase shareholder value
Evaluate equity and non-bank financing options
PROJECT SERVICES
AL-TAX Studio offers the following services designed to provide you additional financial expertise on
a project basis.
Vendor Management: We understand that good vendor relations are vital to an organization and
communication is the key.
Financial Reports: We work with the users and providers of financial information to develop custom
financial reports that will be useful in managing your organization. Financial information typically
consists of a balance sheet and an income statement. While this is useful information, you may require
additional operating information for decision-making.
Budget (Annual Operating Plan) Preparation: We will lead you through the budget preparation
process and assist you in using your budget as a business decision-making tool. A budget should
provide the roadmap for the current year. Monthly operating reviews will keep your management team
accountable to their budgets.
Cash Management: We work with the decision makers in your organization to structure a cash flow
report to assist with operational, investing and financing decisions. Our goal is to monitor your cash
flow on a periodic basis to ensure you achieve your business objectives.
Long-Range Planning: We work with the owners to focus on the future of their business and identify
operational and financial changes that need to take place to accomplish their long-term goals. If you are
a start-up company, in a growth mode, or plan a change in your business operations, we can help you
develop your strategic plan.
Financial Personnel Development: We work with business owners to help develop higher skill levels
within their existing financial team. Development from within the Company is less costly than
recruiting the higher skill level.
Mergers and Acquisitions
Completing a merger or acquisition requires you to make many strategic decisions. The importance of
developing a thorough strategy cannot be overstated. Failure to conduct detailed due diligence and a
methodical risk assessment can lead to bad business decisions. Sometimes it is better to walk away
from a deal rather than bet your company on a transaction that has only a small chance of success.
AL-TAX Studio has the experience to support companies through every aspect of a merger and
acquisition including:
 Due diligence analysis.
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Conducting audits and evaluating assets of acquired companies
Performing other due diligence in connection with acquisitions
Advising on proper accounting methods & adjustments
Reviewing and advising on acquisition agreements
Creating pro forma financial statements for combined entities
Coordinating the complex nature of combining accounting and administrative support
Advising on tax planning opportunities
Consulting on business valuation and purchase price
Working with attorneys, bankers and venture capitalists
The due diligence process should be comprehensive. It is in both the buyer's and seller's best
interest to complete due diligence in order to avoid disputes later.
If you are thinking of acquiring a private company, make sure your decision is based on
thorough due diligence, realistic financial projections, focused post-acquisition business and
integration plans and sound valuation analyses.
Our approach to due diligence is designed to provide you with the right information before the deal, and
avoid surprises after the deal. We are committed to providing you with financial advice throughout the
transaction that will improve your odds for success. Our experience and approach will save time and
money in these types of high-risk transactions.
NEGOTIATIONS AND TAX ASPECTS OF BUYING AND SELLING A
BUSINESS
AL-TAX Studio offers a comprehensive analysis of the business and tax aspects of
buying and selling a business. We will give you a practical guide to help understand
structuring techniques.
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Major topics include:
Spreadsheet analysis to develop an offer price using the discounted cash flow and alternate
valuation methods
Understanding confidentiality agreements, memorandums of understanding, and asset purchase
agreements
Recognizing the need for due diligence in acquisitions -- checklists of important points
Deemed asset sales appropriate?
The impact of the amortizable intangibles regulations on the acquisition and disposition of a
business - the final regulations
How to allocate purchase price for tax advantage
Liquidations as alternatives to sales of a business
Planning to avoid double taxation under repeal of the General Utilities doctrine
Special problems when an S corporation is the buyer or seller
Installment sale and interest issues
Avoiding tax pitfalls and discussion of tax planning opportunities
Bootstrap acquisitions
State tax issue
Audit and Accounting Services
AL-TAX Studio is a fiscal office in Tirana. Not only do we provide traditional
accounting and tax services, but AL-TAX Studio has the knowledge and resources to
address the complex and important issues that arise in operating your business. Our
professionals have significant industry expertise in various types of businesses,
including manufacturing, construction, high technology, natural resources, nonprofit organizations, professional service firms. We work very closely with our
clients on a variety of matters. Our team approach and industry expertise provides our
clients with access to an experienced team that is truly committed to the success of your organization.
Our audit and accounting practice provides traditional accounting services such as compilations,
reviews, and audits of financial statements; however, our team of experienced professionals also
provide much more. Our people are eager to learn more about your business and are only satisfied when
they have truly helped improve your business. We take a business person's approach to providing
services.
Our professionals provide a variety of services:
 Advising of changes in financial reporting requirements, and more importantly, providing a
thorough understanding of the impact of new accounting and reporting requirements on
financial statements.
 Providing meaningful and practical recommendations for improvements on internal control
procedures and policies.
 Tailoring specific attestation engagements (e.g., performance of agreed-upon procedures) to
specific situations and transactions that need close monitoring.
 Evaluating the effectiveness of existing computer systems and accounting software.
 Review financing alternatives including lines of credit, term loans, private placements, etc.
 Conducting financial statement audits for pension and profit sharing plans.
 Analyzing financial statements and making comparisons to other organizations within the same
industry.
Our audit services and accounting services include:
 Cost-effective audits and high-value recommendations
 Reviews and compilations of financial statements
 Cash flow projections
 Internal control evaluation
 Profit planning and budgeting
 Preparation of information to comply with regulatory agencies
 Assistance with establishing and maintaining banking relationships
 Coordination of personal and business financial affairs
 Year-end planning
Tax Services
AL-TAX Studio provides income tax and corporate tax preparation services. We will be available for
tax planning services so that we can work with you to identify the most important income tax and
business tax topics during the current year. Any recent tax legislation will be reviewed in detail for its
effect on your tax return.
Income Tax and Business Tax topics to review include:
 Individual tax planning in light of new tax-law changes
 Investment tax strategies
 New college planning strategies
 New tax-planning strategies for depreciation deductions
 New pension and social securities planning
 Retirement distribution strategies
 Compensation tax planning
 Stock options and other equity-based compensation
 Late-breaking tax legislation
Albanian Jobs Creation Act:
 Manufacturer’s deduction: The tax cut that has major implications for most businesses. What is
manufacturing? Plus, allocation-of-expenses issues.
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VAT: Is your state pro-choice?
News in general for the VAT.
Corporation reform: Is it still a "small" business?
Partnerships: It only gets more complicated.
Real estate: Faster write-offs for lessees and restaurant owners.
Charitable contributions: Why it's harder to give away the car.
Tax shelters: New penalties affect return preparation.
TAX PLANNING FOR INDIVIDUALS
Key tax planning steps:
 New tax-planning strategies for depreciation
 How to minimize the estimated tax payments
 Maximize depreciation on your real estate investments
 Aggressive strategies for the small business owner
 Strategies to leverage and maximize the principal residence exclusion
 New tactics for self-employed and owners
 Year-end tax planning ideas
 Planning techniques for dealing with the Small business and Local Tax Law
 Investment strategies in light of proposed tax legislation, if enacted
BUSINESS TAX UPDATE AND PLANNING IDEAS FOR INDUSTRY
AL-TAX Studio will work to update your business on the most important tax issues and latest
developments. Your business tax plan will be designed to cover, in a clear and concise manner; the
practical issues that every industry professional needs to know to keep abreast of the ever-changing tax
environment.
Key tax planning steps:
 New tax-planning strategies for depreciation deductions
 Key cases and rulings involving shareholder losses and bad debts, reasonable compensation,
constructive dividends, and tax accounting methods
 Current issues on depreciation, amortization, and deductible expenses
 The latest update issues affecting: nondiscrimination, excess contributions and aggregate
contributions, simplified recovery, plan loans, and lek limitations applicable in the current year
 Fringe benefits: inflation-adjusted amounts for mileage rates, safe-harbor meal and lodging,
reimbursed expenses, high-low communities, etc.
 What's new in personal income taxes: cases and rulings relating to worker classification and
responsible-person liability
 Recent developments in mergers and acquisitions
 Late-breaking changes in the tax law, including new expensing and dividend exclusions, if
enacted
TAX PLANNING FOR CORPORATIONS AND NON CORPORATIONS
AL-TAX Studio will apply key tax planning steps before and during the preparation of your corporate
business taxes:
Key tax planning steps:
 Top new planning ideas in light of tax reform
 New tax-planning strategies for depreciation deductions
 Use of single-member LLC
 How low can you go on Corp salaries?
 Partnership options - a wave of the future
 Intangibles planning - new rules and strategies
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Techniques for squeezing more deductions from your inventories
Which corporate shelters work
Accounting methods - avoiding capitalization
Structuring goodwill outside the entity
Tactics to take advantage of proposed legislation, if enacted
TAX ISSUES FOR LIMITED LIABILITY COMPANIES, LIMITED
LIABILITY PARTNERSHIPS, AND LIMITED PARTNERSHIPS
AL-TAX Studio will provide an in-depth discussion issues affecting LLC, AC, CC
and LLP.
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Key tax planning steps:
The great tax nothing: Single-member limited liability companies
How the IRS views members or partners for Social Security purposes
Debt issues and problems in structuring LLC, AC, CC and LLP, including loan guarantee
issues, recourse and no recourse debt, and the at-risk basis rules
Death or retirement of a member or partner
Step-up in basis issues -- How to make the computations and elections
Property transactions between the LLC, AC, CC and LLP and its members or partners -Inbound and outbound transactions
Compensation planning -- Use of guaranteed payments, distributive shares and Keogh plans
Sales of an Interest
Construction Accounting
Taking your construction business to the next level
Accounting is the backbone of a well managed construction business.
To efficiently manage your business you need to know how much each project has cost down to the last
cent; what your overheads were for the month; how accurate the estimate was compared to the actual
project cost.
Construction accounting and taxation help for dealing with the complex accounting, tax, and financial
issues of the construction industry. AL-TAX Studio will cover several areas, including job-costing, risk
assessment, dispute resolution, financial reporting, and benchmarking contractor performance.
Learn how to increase efficiency, control costs, and improve profitability with:
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Succession planning
Change order management
Contractor internal control
Benchmarking and risk analysis
Lost productivity claims
Construction arbitration
Cash flow strategies
Cost segregation
Bonding
Contractors rely on AL-TAX Studio to provide support for detailed job costing, client tracking, and
budgeting functions. Businesses can benefit from the organization and efficiency of integrated project
management.
AL-TAX Studio offers comprehensive support:
 Estimating
 Inventory
 Client Tracking
 Production
 Proposals
 Budgets
 Estimating
 Job Cost
 Accounting
 Scheduling
 General Ledger
 Purchase Order
 Accounts Receivable
 Sub Contracts
 Billing
 Change Orders
 Accounts Payable
 Analysis
 Personal Income tax
 Financial Review
 Service Receivable
 Job Cost Analysis
Not for Profit Services
Turning Challenges Into Opportunities
As a leader of a non profit organization, you face the tremendous challenge of meeting the goals of your
organization and satisfying the requirements of your governing board, contributors, grantors, and
lenders. The professionals at AL-TAX Studio understand the trials and tribulations affecting you. Our
professionals have worked with wide range of organizations and have helped them maximize their
assets and expand their efforts. We provide accounting and management assistance that is in tune with
your specific needs. We specialize in accurately and thoroughly communicating your organization's
financial condition while offering suggestions to help you reach your next level of success.
Income Tax and VAT For Foundations
If you are like most foundation workers, we know your schedule is a busy one. So, we would encourage
you to take advantage of our special service of doing your tax return by mail.
Whether you choose to have your return prepared in the office or by mail, it is beneficial to check with
us first to see what you need to furnish us for accurate preparation.
Foundations Reviews
Regardless of the size of your foundations or associations, the same tax laws and regulations apply.
We'll take the time to review your organization recordkeeping to make sure that you are complying with
the law and that you are not paying extra taxes unnecessarily.
We take the "pulse" of your organization and report to you the findings in a written format.
Productivity Improvement
AL-TAX Studio provides assistance to healthy organizations using critique. Increasingly, successful
companies are employing accountants to examine and analyze their businesses. Then they take
advantage of highly evolved and effective techniques to attain significant improvement in procedures,
finances, and practices leading to accelerated growth and improvement.
Ensuring The Growth and Vitality Of Your Organization
Planning Your Future through goal setting, long-range planning, and feasibility
studies for expansion.
Building Your Organization through fund raising support and finance assistance.
Saving You Money through creative tax planning services and real estate cost
segregation studies.
Organizing Your Business through operational streamlining and financial system
design, setup, and computerization.
Increasing Your Bottom Line through revenue enhancement programs, performance benchmarking,
and fraud detection and prevention.
Ensuring Compliance through written compliance plans, compliance audits and accurate, easy-to-read
reports and financial information.
Ensuring Your Growth through cash flow analysis and budget planning and human resources
consulting.
PROJECT SERVICES
AL-TAX Studio offers the following services designed to provide you financial expertise.
 Financial Reporting for Governmental and Non Profit Entities
 Financial Reporting for State and Local Govt.
 General Funds and Special Revenue Funds
 Capital Projects Funds
 General Fixed Assets Account Group
 General Long-Term Debt Account Group
 Internal Service Funds
 Fiduciary Funds
 Financial Reports; Audits of Governmental Agencies
 Accounting and Reporting for Government Agencies
Non-Profit Organization Specialists
It is important that your organization be set up properly from its beginning. We'll help you make sure
that you are set up for tax-exempt status where applicable. And, in all cases, help assure you the best tax
strategy for your organization.
Sometimes It's Just Hard To Find The Help You Need...
If you're like most of us, you've been frustrated by attempting to understand the tax law changes
affecting your profession. They come so rapidly that it's difficult to even keep up with all the books and
pamphlets written on the subject! However, it's more important than ever that you have the information
you need to protect your tax-exempt status.
So Where Do You Go For Help?
AL-TAX Studio is here to help you by providing information and assistance not only in tax return
Declaration and Payment Formulary’s (DPF) preparation, but also in setting up a tax strategy to assure
the best possible stewardship of your financial resources. We offer a number of services geared
especially at helping non-profit organizations. So, call us. We care about your special tax needs.
Areas of Specialty
NGO Audits
Tax Preparation
s and Reports
Social Securities Consulting
Small Business
NGO
exempted persons
Organization Growth
How Is Critical Accounting Different?
How does critical accounting differ from other more typical accounting practices? Critical accounting
extends well beyond number crunching. First we gain an understanding of your business, priorities, and
goals. Second we analyze the numbers and recommend actions and strategies. Third, critical accounting
is proactive and participatory. To implement strategies for improving business, we have called upon our
own resources, internal or external, or worked with or negotiated with a variety of interested parties,
including: lawyers, bankers, factors, government agencies, creditors, employees, Boards of Directors
and arbitrators.
Finally, critical accounting demands more sophisticated capabilities than most other accounting
disciplines. Aside from business experience and accounting expertise, a genuine critical accounting firm
should adhere to the highest standard. Moreover, we at AL-TAX Studio constantly research, maintain,
and utilize state-of-the-art computer and communications software, sharing with our clients those
programs and innovations most likely to improve their productivity.
The Seven Sins of OVER and UNDER in Business
1. OVER EMPLOYMENT: Over employment occurs when people gauge their own importance by the
number of people required to report to them. The first sign of over employment is when a manager
requires that his assistant have an assistant. The result is that the amount of paper work for approvals
bears no relationship to the importance of what has to be processed.
2. OVER LEVERAGED: Over leveraging generally occurs in a positive economic climate or in
periods of extreme optimism. People believe that no matter how much they borrow, the business will
always improve and grow enough to support the debt service they will incur. However, a downturn in
the business cycle is likely somewhere along the line. Suddenly, the payments on the new building
and new equipment are very difficult to meet. From that point on, even financing operations becomes
almost impossible.
3. OVER EXPANSION: Over expansion occurs when a company commits to more space and more
equipment than its business can reasonably assure will be there to support it. It is most common in
businesses where there is no guaranty that orders received from customers will be repeated. Gearing
up to meet or anticipate demand is problematical. When the company runs into a dry spell, there is no
money to pay for additional fixed overhead. Overselling occurs when salespeople take orders that the
factory cannot fulfill because of production or other problems.
4. OVER EXTENSION: The Company has rather short terms from its suppliers, but does a good job of
selling, in part by extending longer terms to its customers. It purchases all of the material necessary to
do the job, usually accompanied by a build up of inventory that also has to be paid for and may not be
used for some time. Depending on the business, the inventory might not be needed until the next
season. The poor cash flow means that the business may have to deal with the type of lender that
takes an exorbitant charge. When the company is finished paying these charges, it usually finds that it
is working mostly for the lender.
5. UNDER QUALIFIED: When management thinks of a position (usually the administrative staff) as
an expense instead of a profit center, it proceeds to define the responsibilities and skills of that
position inadequately. Then it decides how much it wants to pay for the position. The resulting hire
usually performs poorly.
6. OVER SIGHT: There are companies that pride themselves on running a lean business. No excess
expenditures or superfluous employees. When there are also no controls, the consequences can be
devastating. If employees believe they can steal with impunity, they will especially if your company's
products are consumer-oriented and easily transported and sold. It is therefore necessary to make sure
that proper inventory controls are instituted and all shortages accounted for.
7. OVER CONCENTRATION: When a customer accounts for too large a proportion of sales,
company success or failure may depend on that customer. If the customer knows how critical it is to
your sales volume, it may tend to try to drive prices down, or demand preferential treatment on
deliveries. In addition, if that key customer is sold, changes its product mix, or just changes its mind,
your company can suffer irreversible damage.
AL-TAX Studio offers small and mid-sized companies in the Albania area a simplified approach to
managing and analyzing critical financial information. We are experts at bookkeeping & accounting
services, and can help with everything from day-to-day bookkeeping to producing clear and accurate
financial information. We are also experts at business financial processes and routinely assist with
improving efficiencies in the accounting and finance area.
We recognize the complexities in accurately capturing, recording and evaluating financial information.
Our capabilities range from augmenting your in-house staff to overseeing those employees, or even
taking on the entire responsibility for your bookkeeping and accounting functions. In addition, since
financial management is our primary business we believe we are uniquely qualified to recommend
effective process and efficiency improvements relating to your financial systems. Whatever your level
of need, AL-TAX Studio offers a tailored solution.
Needs Analyses / Improvement Plan Development
This is the first step in our productivity improvement services package. We need people with substantial
business experience and technology knowledge who can quickly assess a company's situation and make
solid productivity improvement recommendations.
Staff Training
Productivity enhancement almost always involves teaching existing employees additional skills.
Employers save a great deal of time and money and get much better results by training their employees
in-house, on their own equipment to learn job specific skills lead to permanent employment
Project Management
Productivity improvement projects typically utilize a variety of skills and disciplines. We need
experienced project managers to help coordinate and direct the activities of Staffing employees engaged
in these projects
Productivity Maintenance
Productivity improvement is not a one-shot deal. Business conditions, sales volumes, technology and
more are in constant flux. Productivity must be reanalyzed regularly to ensure that appropriate and
timely adjustments to systems, procedures and staff are made.
How We Help You Achieve Your Goals?
International group of experienced consultants providing customized solutions to create value by
coaching, consulting, and training. Our professionals have been in your shoes as senior executives. We
understand what you are facing. Our many years of experience both in industry and in providing
customized solutions enable us to create value for your organization.
Cash-Flow Analysis and Budgeting
A business can be profitable and still run into trouble due to cash flow issues. We can
forecast and evaluate your company's financial condition, estimate financing
requirements, and track cash-flow sources and uses. Cash flow analysis and asset
management techniques that are critical in developing and maintaining a firm's sound financial picture.
Our Cash Flow Analysis Includes:
 The importance of managing liquidity and profitability related to financial leverage and overall
improvement of shareholder value
 Asset investment decisions: The types of investment decisions necessary for a business to manage
its profitability and growth.
 Asset acquisition strategies: Understanding and managing a firm's capital structure to determine the
optimal mix of financing, both internal and external, to achieve the greatest profitability and
improve shareholder returns.
 Asset management: Focusing on the tools necessary to determine and evaluate the overall
effectiveness of the firm's management of its critical resources.
 Management of cash flows: Strategies for improving cash inflows and outflows with the aim of
improving shareholder returns and increasing the firm's profitability and liquidity.
 Simulation techniques: Understanding and managing cash flow using leading-edge simulation
models.
 Regression analysis: Using regression analysis to understand the timing of cash flows determining
how much cash to maintain on the balance sheet.