Bookkeeping for Mining Business
We at Aandle Accounting provide a thorough analysis of books of accounts to know the viability of the Mining business as well as to know the profit. The mining industry has a vivacious opportunity if the investment is made carefully.
Mining business can be a huge opportunity given the entry and exit of investments in the asset are decided at the perfect time. Analysis of books of accounts can help in clearly determining the entry and exit time of accounts.
The mining life cycle can be broken down mainly into the following stages:
- Exploration
- Evaluation Process
- Development Phase
- Production
- Closure and Rehabilitation Stage
- We provide monthly profitability reports by a mine which helps the investor to track the expenses on the development of the mine.
- We help in deciding depreciation on mines scientifically to help find the exact cost of that the materials from excavated from mine.
Bookkeeping for the mining business is a bit different as compared to other businesses. This is because of the thorough analysis of profit involved for a specific period of time. Therefore, they should always hire someone specialist for managing their books of accounts.
We, at Aandle Accounting, provide top-class services from day to day bookkeeping to payroll management, payable and receivable management.
We indulge in proper profit evaluation before the actual work of the business starts. Then, we proceed further to the development phase with you, which involves digging the mine. Although no extraction resources happens in this phase, we still need to record the everyday expenses of the mining. Then, the actual productions, or we can say the extraction starts. However, the most crucial is the last process, the rehabilitation stage where we need to make the final reclamation of the mine when we are closing it.
We indulge in all this process with you and ensure that we do your bookkeeping and accounting very accurately and efficiently.