WELCOME TO MICHAEL WEIZMAN & CO. – C.P.A (ISR) WEBSITE
About our Company
Our Company was founded in 1990 in Netanya, Israel and serves hundreds of clients all over the country.
The following departments will be pleased to provide you with immediate service:
Economic Analysis Department.
Client Service Department.
These departments employ a broad range of employees, including accountants, economists, academics, tax consultants, specialists and certified bookkeepers.
Our business philosophy can be summarized as “All-Round Service”. The aim of this philosophy is to provide a range of professional solutions, including accounting services, taxes, various budgeting services, expert opinions and expert witnesses, who give evidence in court, commercial advice and consulting for general business, in particular, in dealing with banks, and providing assistance in obtaining credits from government incentive funds.
As part of our service, we are very punctilious in continually remaining professionally up-to-date and in implementation, including the transition to the International Financial Reporting Standard – IFRS. Our office accompanies clients in all business procedures, from the start-up stage of an independent small business, to assisting commercial businesses in various branches of industry, whose annual sales total millions of Shekels, whilst maintaining strict confidentiality and adhering to the client's professional needs and requirements.
Furthermore, we have compiled a Standard Operating Procedures file, in which we have detailed the managerial, organizational and operational steps for the office's various activities. This SOP guarantees uniformity, efficiency and categorization of our work, while maintaining conformity to laws, regulations, accepted methodologies, and proper quality control.
We have direct computer linkage to the following institutions: Income Tax, Value Added Tax and the National Insurance Institute. As a result, our office provides services that are of a higher and quicker standard to our clients. We have also been included in the representative’s ranking of the National Insurance Institute, and we have received certification as an outstanding representative.
Our office provides a variety of mediation and/or arbitration services. We have a large and well-equipped conference room, which facilitates mediation and/or arbitration proceedings, with a large number of participants, in a professional and prestigious environment.
Office Departments and Their Services
The Auditing Department employs a large team of accountants and accounting interns, who carry out auditing operations for public and private companies, partnerships, corporations, associations and non-profit organizations. The department strictly adheres to the set time-tables, in accordance with the requirements of the client. Our office is meticulous in submitting reports on time, according to the dates approved by the Tax Authorities and in accordance with the needs of the client, so that all the auditing work on financial reports is completed for every client, within the legal time limit.
The department manager is a veteran of a large accounting office in Tel Aviv, who has vast experience in auditing large companies that are well-known in the Israeli economy. The department is managed in a hierarchical manner, while maintaining strict attention to quality and includes team chiefs and auditors who are certified public accountants, and holders of academic degrees in accounting, economics and/or business management.
The Auditing Department provides auditing services and annual financial reports to companies and corporations, and consolidated financial reports to company groups, which include various types of activities, such as balance sheets, profit and loss reports, cash flow reports, reports on changes to paid-in capital, plus annexes, and everything is done in accordance with the accepted accounting principles of Israel.
Furthermore, the department periodically draws up unaudited and/or survey reports for companies and corporations, usually as a result of a requirement of a major vendor, banking corporation, or any other body providing capital to a client, who is interested in knowing about the latter’s financial situation, and the client’s ability to repay. The department carries out this due diligence reporting by client order, with great professionalism, when the due diligence involves intentions of acquisition / investment or any other aim.
In addition, the department supplies internal auditing services and investigative auditing to public, private and institutional clients, both as a result of a client requirement and due to the appointment of an internal auditor to fulfill legal requirements. Our office is routinely appointed by government ministries, via a pool of accountants of the Chief Accountant of the Ministry of Financial Affairs, to carry out a wide variety of internal and investigative auditing operations in government offices, and in addition, we are appointed by the Office of the Inspector-General for special auditing works.
Below are part of the services the department provides:
Auditing of financial reports of companies and corporations.
Internal and investigative auditing.
Unaudited and/or reviewed financial statements for companies and others.
The Economic Analysis Department
The Economic Analysis Department supplies a wide variety of services, including assessments, business plans, line-of-credit applications to banking corporations, credit requests from government incentive funds, accounting certification and special reports, arbitration and mediation services, expert opinions for the courts, business and economic consulting and accompaniment, economic recovery plans for companies and businesses, and preparation of budgets.
The department manager and his employees are accountants who are experienced in auditing, economics and business consultancy, and hold academic degrees in economics, accounting and/or business management.
Our economic specialists will accompany you in business and economic matters by providing advice and direction in a variety of topics, who will participate in your meetings with third parties, including banks and other financial institutions, will testify in court with reference to their expert opinions submitted to the court, and will be at your service at all times. It goes without saying, that the consulting and/or any other additional service, will be carried out personally and with discretion.
The following are part of the services the department supplies:
Assessments of worth.
Expert opinions for court testimony.
Arbitration and mediation services.
Credit requests from corporations and bankers.
Applications for credit from governmental incentive funds.
Business and economic consulting and accompaniment.
Recovery plans for companies and businesses.
Accountant’s certification and special reports.
Assistance in preparing a budget and managing budgetary control.
The Tax Department
Our office's Tax Department draws up annual reports on an ongoing basis, in accordance with the requirements of tax laws and the taxation authorities, based on rulings of the Israeli courts (Adjusted Statement of Income for Tax Purposes Report is submitted together with the Annual Report to the tax authorities). Likewise, throughout the year, the department works on unaudited periodic reports to clients, for the purpose of examining the tax aspect and the need to change the rate of amounts of estimated tax pre-payments made by the client, in order to prevent the creation of accumulated obligations to the Income Tax Authority, upon submission of the annual report, or alternatively, receiving large tax refunds that could be avoided and thereby not strain the cash flow of the business in the course of the year.
The Tax Department specializes both in individual taxes and in company taxes. During the year and according to the demands of the client and/or the taxation authorities, the department examines various and complex tax issues, manages meetings with Income Tax Assessment, Value Added Tax and the National Insurance Institute and handles the receipt of tax refunds to businesses and salaried individuals.
In addition, the department acts to obtain special approvals from the tax authorities, including tax withholding at source for payments made abroad, Form 50 for contractors, certification in accordance with Section 46 to the Income Tax Regulations for non-profit organizations, etc.
The department comprises experienced accountants, who have academic degrees in accounting and economics and/or business management. On occasion, with regard to complex tax topics whose solution is not unequivocal, the department will make use of relevant legal opinions from recognized tax experts, so that the department will make use of all the client's entitlements while remaining within the requirements of the law.
The following are part of the services provided by the department:
Examination of tax aspects.
eetings and discussions on tax assessments with Income Tax and V.A.T. Authorities and the National Insurance.
Drawing up periodic reports.
Tax refunds for salaried individuals.
Our office's Accounting Department provides a variety of accounting services, including double and single entry bookkeeping, computerization of main business books, carrying out the adjustment of computer records, preparation of monthly reports and bi-monthly reports, as required by the tax authorities for companies, associations, non-profit organizations, partnerships and proprietorships.
In addition, the department serves as an external provider of salary computation services for the office's clients. Preparing salary vouchers are only some of the accounting services that the department supplies to clients, as a separate service for clients who manage their own accounts.
Tax consultants employed by the department, draw up annual reports and statements, both for businesses and for owner managers, and give professional advice to the office's clients.
Furthermore, the department supplies professional accompanying services, including the dispatch of managerial reports to managers, which depict the estimated profit for the business for a certain period, broken down by departments and profit centers, executed monthly for continuous tracking of the actual profit earned by the business, while identifying strong and weak points.
The Accounting Department is managed by a certified accountant and tax advisor with considerable experience and seniority. The department also employs additional certified tax consultants, whose certifications are from the Israel Office of Tax Advisors. There are also bookkeepers who have diplomas issued by the Ministry of Labor.
The department handles a wide variety of operations in various sectors, and is skilled in maintaining sector and branch books suited to the needs and scope of the business, whilst preserving complete suitability for the type of business and supplying all the information required by the branch to which the business belongs.
The following are part of the services the department provides:
On-going bookkeeping services.
Regularly issued managerial reports.
Accounting services to reduce delays in bookkeeping.
Service office for salary – preparation of salary vouchers and annual reports.
Producing various benefit calculations.
Clients Service Department
The Clients Service Department is the first address for all the office's clients and/or anyone who contacts our office, for whatever reason. We have a team of professional senior secretaries, who are extremely service oriented and who are well-versed in the tax authorities' managerial system. Every client's call receives swift individual attention, and if need be, the call will be routed to one of the professional departments in the office, for handling by tax consultants, economic analysts or accountants.
The Clients Service Department's main duties are to represent the clients interests to the various tax authorities and to deal with all matters connected with the cancellation of fines, carrying out arrangements for time payments of back-taxes, changes in the rate of pre-payments of taxes, submission of annual reports, and handling excise tax refunds (as diesel fuel tax), as well as other services .
From time to time, the department updates clients on changes in the law, reminds them of urgent matters or presents position papers on “hot” subjects by sending out professional circulars.
The following are part of the services the department provides:
Continuous professional attention.
Representation before tax authorities.
Founding companies, associations and various legal bodies.
On-going handling of associations, non-profit organizations and cooperative societies.
Professional articles services.