Overall Aim To provide business and financial expertise to complement your own senior management structure in order to assist in the decision making within your business. Tools Available & Methodology
We can either work with your existing system to maximise its potential, or we can recommend and introduce a new system, more suitable to your particular business needs. Most businesses are rarely utilising their existing system to ensure accurate monthly management information can be extracted. Our aim would be to ensure the system is set up, and staff trained to ensure relevant accounting information is available.
We will work with you, and/or your senior department managers, to construct an annual budget. This will become a dynamic business tool, referred to on a monthly basis to gauge business success, and pinpoint problem areas before they become critical. The budget will be compared against actual monthly management accounts, and variances examined. In some cases it may be necessary to construct a 2, 3 or even 5 year budget.
It is essential that the system used is capable of producing a set of monthly accounts, as these will form the basis for management control within the business. We will ensure the system is set up to produce timely, accurate accounts. Then, whether it is by your own in-house accountant, or ourselves, the accounts can be presented to you with comparison against budget.
Within the budget structure, we shall build in Cashflow forecasting to enable the business to plan ahead. It is essential that a business is aware in advance of the times it is going to have surplus funds available for investment, as well as the occasions when cashflow planning is critical due to periodic financial commitments. Planning for capital expenditure, VAT quarterly payments, peaks and troughs in seasonal workload, Income and Corporation Tax payments is vital.
We can assist in the development of a Business Plan for your company. This can become the blueprint the company works towards as it sets out its goals and aspirations in the market place over a period of time. It can be used to gauge strengths and weaknesses within your organisation to assist with future planning. It can also help when approaching major customers, Banks or other finance houses, as a means of demonstrating the company's professionalism and commitment to progress. |