Accounting policy and strategy
We offer a package of document templates and services to plan your accounting policy and to implement effective financial standards and processes. A financial study can help newly formed companies and those managing change, such as expansion after a take-over, or downsizing after a disposal. A sound accounting policy, standards, controls and organisation can help to eliminate fraud and protect the directors. All companies will be required to adopt IFRS (International Financial reporting Standards). Another new legal requirement is ensuring all business processes and controls are effective to comply with recent legislation.
Accounts engineering - business processes & controls
We have a Business Process Re-engineering programme especially for Accounts Depts. Since the Accounts Dept. is always involved in cost reduction programmes, it is difficult to get the "inspector” to inspect itself. Only an independent external study can ensure no conflicts of interest, either internally or from the auditor's own consultancy firm. Our studies regularly yield accounting staff reductions of 10-15%, higher service levels and shorter reporting periods. We often implement new management reports to measure transaction throughput, quality and the productivity rate of the Accounts Dept.
Computer systems - design & implementation of management & financial accounts
We plan, design, develop and implement package and custom built computer systems. Also we can provide document templates for charts of accounts and system specifications of sales, purchase, nominal, stock, work-in-progress and project ledgers. A good accounting system provides an audit trail and clarifies accountability and responsibility for quality, space, money, men and materials.
Accounts procedures manual & processes
We offer document templates and services to prepare your accounts procedures manual - usually at the auditor's request. Our document templates can help to produce a procedures manual quickly. It can cover: standards, controls, cut off & reporting dates, budgeting, consolidation, computer processing, ledgers, authorisation for expenditure, bank reconciliation, investment appraisal etc. Sound accounting procedures ensure the proper separation and segregation of duties to protect the company's assets and maintain control over income and expenditure. We sometimes correct auditors’ blind spots in front and back offices.
Cashflow - Treasury management
We often help companies tighten up their credit control procedures - such as showing how to collect outstanding debts in a professional manner without harming customer relationships. Perhaps your debtors are too high and sales staff are allowed to sign-up new customers without proper credit checks. Also we often find that sales discounts are too generous. Debtors can be greatly reduced.