UHY Dawgen Chartered Accountants (Incorporating Paul Goldson & Company) is one of the largest independent public accounting and advisory services firms in Jamaica, with offices in major business centres throughout Jamaica namely : Kingston, Runaway Bay, Montego Bay and Mandeville. Headquartered in Kingston, Dawgen provides a full spectrum of traditional tax, accounting and assurance services; advisory, valuation and litigation support.
Visit our website :dawgen.com
Challenging economic times inevitably leads to greater risk of companies encountering financial difficulties.
At times of often intense pressure for business leaders, Dawgen is able to provide clients with the assurance of dealing with approachable experts with the commercial awareness, practical skills and understanding to help navigate the best course of action.
Experience of business recovery across a wide variety of industries and circumstances enables specialists to provide an early assessment of potential solutions to your problems, whether a sudden reduction in cash flow or an unpaid debt from a major customer.
INNOVATIVE SOLUTIONS TO DIFFICULT PROBLEMS
Winding up a business is very much regarded as a last resort and, wherever possible, member firms will look to provide advice on rescuing or restructuring a company to help it return to profitability.
What can appear to be an intractable situation can often be resolved through a restructuring of bank and equity finance or rescheduling of debts.
Partners in our local offices are able to respond swiftly to help a company in trouble, often buying valuable time and breathing space to work through a solution.
The breadth of knowledge across sectors and geographies means we are well-placed to identify opportunities for disposals where suitable to help reduce debts or provide working capital. Working in partnership with property experts and lawyers ensures maximum value is achieved from business assets.
In circumstances where companies are unable to continue within their existing form, advice is provided on the most suitable options available including administration, liquidation and Company Voluntary Arrangements (CVAs).
Corporate recovery specialists in Dawgen act as receivers or administrators, often enabling the business to continue trading whilst new owners are found.
When clients are at risk from financial problems affecting a major customer, partner or supplier, specialist staff are able to provide practical advice on the range of options available to recover debts or protect assets.
Where necessary, advice can be provided on instigating insolvency procedures and clients represented at creditors’ meetings.
The reach of the UHY global network enables us to assist in recovering debts in jurisdictions throughout the world.
OUR SERVICES INCLUDE:
Asset protection or repossession
Developing or implementing good management practices
Growing your business through mergers and acquisition, raising finance or looking to join public markets requires specialist advice.
Dawgen provide a full range of corporate finance services, from initial assessment of strategy through to deal completion.
In-depth knowledge of industry sectors and markets provides valuable insight into specific opportunities and risks for your company.
Corporate finance specialists assist clients to develop an acquisition approach, identify targets or interested parties, instigate negotiations and help conclude transactions.
HELPING MAXIMISE VALUE FROM YOUR BUSINESS
If you are looking to sell your business or plan an exit strategy, Dawgen can help you with initial preparation, valuation and marketing to potential investors, negotiation through to tax minimisation and investment planning.
CORPORATE FINANCE SERVICES PROVIDED BY Dawgen INCLUDE:
Developing a real understanding of your business and the market you operate in enables experts from Dawgen to proactively help you drive greater efficiency and increase profitability.
It can help you take advantage of opportunities, whether through identifying new investors and partners or developing and executing an acquisition strategy.
FROM INDEPENDENT REVIEWS TO INTERNATIONAL OUTSOURCING
Business advisory services provided by Dawgen include year-end accounts preparation, management account reviews and assistance in preparing budgets and financial projections.
Dawgen is able to help develop or review business plans and carry out independent business reviews and valuations for lenders and investors.
Our clients have utilised our services to aid expansion into new markets, develop cross-border joint ventures or outsource business processes to lower cost locations.
SPECIALIST ADVISORS FROM OUR FIRM CAN HELP YOU WITH:
Accounting and bookkeeping outsourcing
Budgeting, financial planning and control
Cash flow and profit projections
Business plans and independent business reviews
Company formations and company secretarial services including appropriate commercial and tax-efficient structures for international expansion and cross-border ventures, trusts and foundations, pension funds, charitable and philanthropic structures
Reviewing management reporting systems
Domestic and international expansion
Practice management and business systems
Payroll administration and company administrative services
Independent audit and assurance are not just about good governance but valuable tools for benchmarking and improving business performance.
The breadth of knowledge and experience across industries and sectors ensures our member firms provide audit and assurance services tailored to the unique needs of your business.
As well as meeting internal reporting requirements and statutory obligations, a robust annual audit identifies both threats and opportunities to your business or organisation. Intelligent insight is provided and practical recommendations made.
In addition to carrying out audit and assurance services for individual businesses and organisations, Dawgen frequently conduct audits on behalf of parent companies, managing and co-ordinating the audit process across an entire corporate group.
MEETING REPORTING STANDARDS, WHEREVER YOU DO BUSINESS
For many clients, audit services provided are used to ensure a subsidiary company meets the reporting requirements of the parent company.
Dawgen is well-placed to carry out multi-national audit work and we frequently work with affiliated and non-affiliated firms and advisors.
They also have a thorough understanding of international regulations and legislation, and experience of complex reporting issues, including Sarbanes-Oxley and International Financial Reporting Standards (IFRS).
Even though they operate through an extensive global network, the size of our network usually avoids conflicts of interest.
OUR AUDIT AND ASSURANCE SERVICES INCLUDE:
Statutory audit and review of annual financial statements
Review of internal controls
Compilation of financial statements and other financial reports
Jamaica Producers Group (JPG) has sold its stake in Four Rivers Mining Company to Jamaica Aggregates Limited, a deal that calls for the new operators to pay royalty to the food and logistics conglomerate.
But with that now out of the way, Jamaica Producers has a new challenge cropping up overnight - assessing the impact of Brexit.
JPG will retain ownership of the lands currently mined by Four Rivers, but has sold the assets, including mining equipment, to Jamaica Aggregates, said managing director Jeffrey Hall following the company's annual general meeting in Kingston on Friday.
He declined to comment on the sale price.
JPG owned 51 per cent of the mining business alongside minority partners Lydford Mining with 35 per cent, and The Irons Mountain Mining Company, 14 per cent.
Four Rivers has been a lossmaker for JPG, but the company also said the mining operation's disposal was part of the plan to shed non-core assets.
Its core focus is on speciality foods and logistics infrastructure.
"Mining fell outside of that so we have identified people who we think have the expertise to do that business. We think that's a better way to operate," Hall said on Friday.
"JPG still owns the property. We will charge royalties for using our land to conduct mining activities," he said.
JPG entered the mining business in 2010 under a $150-million investment with the objective of monetising the deposits of river aggregates from its lands in St Mary and St Thomas.
However, increasing operational costs and challenges with plant reliability and efficiency saw the subsidiary posting continued losses over the years.
At Friday's meeting, JPG shareholders cheered the disposal, one of whom declared: "I'm glad we are over that."
Jamaica Aggregates, based in Kingston and Yallahs, St Thomas, is a joint venture between Jamaica Pre-Mix and cement producer Lafarge.
Regarding Brexit, the geopolitical turn in the UK from Thursday's vote to exit the European Union could pose both challenges and opportunities for JPG, Hall said.
"It's too early to tell, but it is something that we are watching very closely," he toldSunday Business.
"For us, a depreciation of the sterling can negatively impact on our revenues. But, on the other hand, because we are in the shipping business, a depreciation can mean more trade with the UK," he said.
Some 33 million people from England, Northern Ireland, Scotland and Gibraltar, participated in the referendum, with 52 per cent choosing to leave and 48 per cent voting to remain in the EU.
"There can be implications for the level of certainty and the investment environment in Europe, which could affect consumer confidence. But what we can say is that we are giving it the appropriate attention," he said.
The company further does not expect to change its core strategy for that market, he said.
"We are investing very aggressively in fundamental trends and we think they are the right trends regardless of short-term changes, and we expect to continue to deliver shareholder value," Hall told shareholders.
Just last year, JPG's European business, juice-maker Hoogesteger closed a $200-million round of investments to improve capacity and extend the shelf life of its products.
In our Monthly Review and Oversight service model, Dawgen will provide assistance to management and the existing bookkeeping staff on a monthly basis. Specifically, we will assume responsibility for review of all transactional activity, formally closing the books each month and preparation of monthly financial statements for management.
Review & Adjust Posting of Monthly Transactions
Business Expenditures (Credit Card)
Coordinate & Oversee Month-End Closing
Prepare bank reconciliations for all accounts (as needed)
Reconcile all other balance sheet accounts
Maintain fixed asset/depreciation records
Reconcile payroll and payroll taxes
Review deferred revenue
Analyze all revenue and expense accounts
Prepare and record adjusting journal entries (as needed)
Prepare adjusted trial balance and supporting documentation (e-work papers)