The Accounting doctors based out of Pickering, Ontario have simplified the process of converting sales to profit by giving top-notch financial and business consultation at their firm “The Accounting Doc.” As Directors, Salman Feroz and Khurram Haroon spearhead the business to bring quality services that include Personal and Business Taxes, Payroll, Bookkeeping, Will Preparation, Business Registrations, Credit Repair Counseling & Financial Training.
The Chief Operating Officer, Haroon, has managed multiple contracts worth more than $300 million each and has had excellent business relationships managing agreements with companies like Boeing, Airbus, Bombardier, General Dynamics, and Rolls Royce.
“We have seen accounting firms in GTA with an excessive focus on taxes and nothing else. We at the Accounting Doc believe that Financial Health is much more than just taxes. That’s why we offer accounting services with a huge focus on educating and raising financial literacy awareness. All our services come standard with financial education for the entire family Free of Cost.”
On the other hand, as Chief Financial Officer, Feroz has worked with many multi-million dollar businesses, including RioCan REIT, H&R REIT, Primaris Management Inc, Canadian Real Estate Investment Trust, Loblaws, McDonald Restaurant of Canada, and the University of Toronto.
“I believe in providing the best financial reporting services. Just like a doctor identifies health issues, the Accounting Docs helps identify and solve issues with your Personal and Business Financial Health. Our Ideology is to make accounting stress-free for our clients.”
The Accounting Doc managed to go completely paperless during the times of pandemic. “We have implemented software’s that has taken us 100% virtual”. Haroon continued explaining. “The Accounting Doc is our baby. We strive to bring boutique accounting service to our clients with a greater focus on education to improve financial IQ. Every client gets access to our talented team”.
In addition to the services mentioned above, Feroz stated that The Accounting Doc has a Debt Consolidation Trustee as affiliate partners who offer a wide variety of debt remediation and insolvency services. “We being the financial consultants, give the best possible guidance to the Trustee as to how to approach rebuilding financial standing and offer our clients training to improve the financial IQ by improving budgeting and debt management skillset.”
Haroon elucidated the importance of wills. “Our partner offers Simple Wills, Living Wills & Power of Attorneys. We partnered with one of the largest lawyers approved legal Wills providers in Canada. We offer you an option to have your Will reviewed by a lawyer for a meager price”.
One does not need to fill up a lawyers’ pocket as our clients get unique access to both a lawyer’s and an accountant’s viewpoint. “This combination is rare and helps our clients get the best of both worlds. We offer this service for pennies on the dollar of what they would pay if they go to a lawyer. Furthermore, the clients get unlimited updates free of charge and are advised to update their Will once a year”.
Feroz briefed the best course of action for clients who have services to offer but don’t have enough to invest in looking at alternate investment sources such as Time Equity, where someone invests their time, or a Joint Venture Partner who is like-minded and understand your vision. Also, there are a lot of grants and loans available by Government Banks and other agencies. Speak with one of our Accounting doctors and they will guide you. We are part of a larger group of companies that helps people invest into Real Estate & other businesses, and they have an excellent track record of generating ROI’s ranging from 40-100%.”
There are millions of moving parts in any business, leading to gaps in tracking finances, drastically reducing profitability. Haroon explained, “To have a proper workflow, we identify and recommend proper controls in the workflow system that regulates and fix operational gaps that exist to optimize revenue within any businesses.”
“We offer comprehensive consultations for small businesses, which includes a 128 point evaluation of their operational deficiencies. If businesses generate great Revenue, but their profit margins are low, we identify where the opportunity lies and offer a plan to correct this deficiency to maximize their profits”. Feroz added.
Haroon and Feroz extend their help to small businesses by analyzing their financial situation first. Once they get a clear picture of the overall industry, they provide suggestions accordingly.
“We understand how specific businesses perform and what a specific line item should be as an expense in terms of % of Revenue. If any expense is out of the typical range, it raises a red flag, reviewing it. For example, a typical fast-food restaurant should not have its labor cost of more than 18% of Revenue. Based on these parameters and last year’s expenses of any given business, we create an annual forecast for the clients to follow religiously”.
“Stay strong, stay informed. You will make it!” Haroon gave an optimistic approach to New Immigrants.
“Canada has numerous resources and free of cost programs that can help you find a job or learn about starting a business. Use these to get your foundation set up in Canada and work hard. Success will find you!” Feroz highlighted the critical factor to be successful in Canada.
All the accountancy firms have seized physical documentation and have transitioned to online systems. New immigrants are guided in business startups, financial planning, filing taxes, and preparation of wills. The Accounting Doc is a one-stop solution to all Canadian residents looking for financial advice.
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Author: Sarah Syed, Content Writer, Toronto, Canada. If you have stories to share kindly email: – [email protected]