Services
Financial management information
We provide regular financial management information to help you keep your finger on the pulse of what is happening in your business, including:
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Monthly management accounts with ratio analysis and key performance indicators to ensure that your assets are working hard for you.
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We will aim to develop your accounting systems to collect raw data about how your clients and customers are performing. Know which accounts are the most profitable, identify why and target your new business efforts to recruit similar new customers.
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Staff performance monitoring. How productive and efficient are your staff?
Do you glaze over at a page of numbers? For examples of how we might bring your management information to life, please see some practical examples at the foot of this page. Alternatively, please click here for our Essential Management Information fact sheet.
Year end
Preparing year end accounts for sole traders, partnerships and companies exempt from audit. Alternatively, if your company requires an audit, we can help keep down the cost of your audit fees. We will prepare accounts ready for audit ensuring all figures are fully explained and supported by appropriate evidence
Forecasting
Short and long term forecasting, including full projected profit and loss, balance sheet and cash flow forecasts to help identify issues before they arise and understand the impact of your decision making.
Business planning
Assistance with business planning, SWOT analysis, objective setting, strategy development, budget setting.
Funding
Reviewing the terms of your existing funding and assistance with sourcing additional or alternative providers of finance. Advice on debt management.
Financial systems
Reviewing and advising on book keeping and management systems and internal controls. Specifying, identifying and implementing new accounting systems.
Cash management
Reviewing the working capital cycle to determine how more cash can be liberated. Credit management / monitoring.
Book-keeping
Supervision of clients own accounts staff, or outsourced book keeping function.
Distressed businesses
Assistance with turnaround and business recovery.
Objective review
Providing a regular financial sounding board and opportunity for objective review of client businesses.
Examples of management reporting
Example One
Monthly Accounts
In a simplified example you might have access to headline sales figures and pay salesman commissions based on these.
Monthly sales are:
|
|
Jan |
Feb |
Mar |
Apr |
May |
Jun |
|
Sales |
56,000 |
60,000 |
80,000 |
49,000 |
85,000 |
60,000 |
Here is a representation of the profit and loss account, showing sales, gross profit, net profit.
In addition you might wish to have some basic overhead analysis included.
Clearly there was a problem in May because despite high sales, the margin achieved is low. On the basis of this you would likely investigate the reason and target your sales force to higher margin opportunities and/or make some adjustment to their commission structure to reflect the lower margin generated.
Example Two
Sales Monitoring
You have four sales people who have delivered between £100,000 and £150,000 per month over the last year and each has individually generated the following sales figures:
|
Sales person |
£’s |
|
A |
364,000 |
|
B |
378,000 |
|
C |
386,400 |
|
D |
383,600 |
A simple chart can highlight some of the hidden issues:
Obviously this is an extreme example of how each person might be performing but it gives you the ability to spot a trend as it unfolds and if forecasts are carried out, before it unfolds, allowing you to manage the situation appropriately.
Example Three
Customer Dependence
You probably know who your best customers are but you also need to consider what happens if you have an over dependence on them and lose their business. Does it jeopardise your business?
A pie chart helps to illustrate the issue
Clearly you need to consider how secure those key relationships are, identify what makes them successful and target your efforts on acquiring new customers like them.
Insight for - accountant, book keeping and financial advice in Maidenhead, Slough, Burnham and surrounding area
