"Data is queen - You get what you measure"

cash-management-belfast-2There are many things that go into determining the health or strength of a business. Understanding these ingredients is particularly important when trying to ascertain why the business is perhaps not going the way that you envisaged. Such information is even more important when coming to make the decision as to whether to invest further capital to facilitate growth. We believe that such answers always lay within the existing data that your organisation has already captured.

 

If that data is structured into a meaningful format such as a set of financial statements/reports then it can be analysed and from that analysis a story will emerge which will give further insight.

The more detailed the financial reports and records are the better analysis can be achieved. Financial accounting can be considered as a kind of three-dimensional puzzle containing accounts, calculations and reports. Comparing these to your plans (budgets) through the production of management accounts provides further understanding of what is working or perhaps not working so well within your overall business.

The following are some of the ways that we can help with financial and management accounts reporting:

Preparation of financial reports – Establishing exactly what level of detail and frequency you wish to receive the data of your business structured in way that suits your business

Preparation of Management accounts – Reports that allow you to manage and monitor your business against your goals and objectives

Key Performance Indicators – Creating a dashboard of business indicators (both financial and operational) that allows you to instantly assess the performance of your business in a time cycle that suits your business

If you would like some help in any of these areas for your business, contact us today.