Business Development & Management Accounting
The quality of the financial management information is essential for profitable running of any business.
We understand that many clients require more than just their annual accounts to assist them in making decisions about their business, whether this is for investment appraisal or assessing the performance of the whole or part of this business, or to assist them in making decisions to minimise any tax. We possess the experience to implement the necessary measures to establish management accounts systems. These systems are set up to produce accurate accounting information be it monthly, quarterly or final accounts on your behalf or, alternatively, we can assist clients at their own premises in satisfying their management accounting requirements. The results can be discussed with the managers of the business and assist them with any decisions they feel necessary.
In addition to, or quite separately from the management accounts most businesses will be able to measure the performance of the business from important financial and non-financial data. These are known as "Key Performance Indicators" (KPI's). These can show important trends and can be an essential tool to help the managers make important assessments about the business.
We also have the expertise in looking after the best interests of non-resident proprietors, in acting on behalf of UK subsidiaries and branches of overseas holding companies providing a central knowledge base for business matters relevant to the UK.
Financial Forecasting and Budgeting
Just as management information is important for many businesses, there are those who call for more proactive assessment of the future. We have for many years have assisted clients in producing flexible forecasts that include profits and loss accounts, balance sheets and cash-flow forecasts so loved by bank managers and financiers. This enables the business managers to assess the impact of a range of decisions on their business, commonly known as "what if"decisions. The forecasts can be updated periodically and if desired incorporated as budgets within their financial reporting programs and actual performance measured against budget.
Many businesses require much more than just a forecast and require or be required by a bank or other provider of finance to prepare a comprehensive business plan. We have worked closely with clients to produce such business plans. This experience vastly enjoyed by both the client and us and as a by-product, the client learns new financial and management competences, which provides much satisfaction for both parties.