First Choice Finance Consultants

With offices in India and the United Kingdom, First Choice Finance Consultants provides outsourced finance for companies that need finance leadership without a full-time CFO on the payroll. Its work runs from the books and the tax returns to part-time chief financial officer services. The firm names small and medium-sized businesses, startups and family-owned companies as its main clients, and its reporting is set up for the regulations of India and the Gulf states.

Virtual CFO work for growing businesses

The virtual CFO service provides financial planning, budgeting and cash flow management, along with board-level reporting and management information dashboards. It is offered on a part-time or project basis and delivered mainly remotely, with in-person reviews where they are needed. The firm describes a virtual CFO as an experienced finance leader who oversees strategy, planning and controls while working as part of the client's leadership team. Typical tasks include designing budgets and financial plans, setting up KPI tracking, managing working capital and banking relationships, and reviewing monthly or quarterly performance with management.

Tax filings and GST advice in India

The tax work covers tax planning and consulting, mergers and acquisitions tax advice, goods and services tax advisory, advice for non-resident Indians on taxation, and advice on the sale of property and capital gains. It also includes annual return filing, representation before tax authorities, and tax auditing and assurance. The firm also handles registrations and filings that Indian businesses need, from GST and income tax returns to private limited company and LLP registrations, provident fund and employee insurance registrations and filings, and company annual forms.

Accounting, bookkeeping and payroll administration

For day-to-day finance, the firm runs accounts receivable and payable management, accounting and bookkeeping, financial planning and analysis, and payroll accounting. It also lists back-office administrative support and online customer service support as functions that clients can outsource. The firm says that outsourcing these tasks lets a business avoid employing, training and paying an in-house bookkeeper, and that its systems work with many of the common financial management software packages.

Accounting standards and reporting advice

On the reporting side, the firm advises on Indian Accounting Standards, International Financial Reporting Standards and Generally Accepted Accounting Principles. Its stated outcomes are clean books, accurate reporting and controls that reduce leakages, fraud and non-compliance, as well as forward-looking insights rather than only historical reports.

Who the firm serves

The firm says its clients include small and medium-sized businesses scaling across Indian states or into Gulf Cooperation Council countries, startups preparing for funding or rapid expansion, family-owned businesses professionalizing their finance and governance, and subsidiaries of foreign companies that need Indian or Gulf regulatory support. It says its engagements are tailored to the sector, with manufacturing, trading, services, technology and property-linked companies among those it names.

Outsourced finance in the UK

The firm also operates a UK finance and tax service, which is listed alongside its Indian offering. The firm's site presents its work as outsourced finance for businesses that want an external partner in place of a full-time finance team, with the level of support set to suit the client.

First Choice Finance Consultants is an outsourced finance firm offering accounting, tax filing and part-time chief financial officer support, with offices in India and the UK. It serves SMEs, startups and family businesses that want finance leadership without hiring a full-time CFO.

Services

• Virtual CFO services: financial planning, budgeting, cash flow management and board-level reporting, on a part-time or project basis.
• Tax services: tax planning, GST advisory, annual tax return filing and representation before tax authorities.
• Accounting and bookkeeping: accounts receivable and payable, payroll accounting and MIS reporting.
• Accounting standards advice: advisory work on IND AS, IFRS and GAAP.
• Tax audit and assurance: tax auditing and assurance services.

Customers and markets

The firm names SMEs, startups and family businesses as its target clients, with reporting aligned to India and Gulf regulations.

Key facts

• Offices: India and the UK.
• Regulatory focus: India and Gulf regulations.