The purpose of this assessment is to check main accounting and reporting areas and give recommendations from a CFO’s perspective to reinforce your finance and accounting function. Our CFO’s use a comprehensive checklist and commence detailed interaction with you, your accounting team, your auditors, your tax consultants; in addition to providing an executive summary of findings and areas to be enhanced to take your company to the next level. Post the health-check, based on specific requirements, we even help companies with drawing various policies and implementation of various suggestions.
We can help your current systems to make certain they are operating efficiently and providing accurate results regularly. If systems are inadequate, or are non-existent, we can assist you to choose the right one. This might include but not limited to, your financial accounting system, cost accounting system, purchasing/accounts payable process, operations process flow, or system for measuring operations performance.
All businesses have key factors that, if regularly monitored, can indicate the current status of business. Monitoring such factors is more important than depending only on financial statements. Financial statements are historical documents that tell us what happened weeks ago. On the other hand, KPIs can tell us what is happening now, and can sometimes predict what will happen next. Moreover, KPIs might depend on the type of business when used in production, distribution, overtime statistics, sales operations, order taking, cash collections, inventory levels, backlog statistics, or other areas. Thus, we can identify these factors and set up a procedure for tracking and analyzing them.
Solid accounting policies and procedures are widely recognized as the most significant requirement for sound internal controls for a business. We help our customers formulate and apply finance and accounting policies as well as procedures to improve company’s internal controls, reporting and general management.
Applying finance and accounting internal controls for a business is not that easy. We not only provide growth companies with necessary real-world and vital controls, but also help them set-up and implement them. Based on its size and stage, we closely work with the company in customizing various controls to ensure its effectiveness.