Ongoing Financial Reporting
Every organisation requires periodic reporting to assess its performance and take appropriate corrective action. Analytical reporting helps organisations in identifying problem areas, taking correct investment decisions and plan their cash flows to avoid unexpected and unforeseen problems.
Finance Optima helps you arrive at and provide relevant & ongoing monthly reporting to help you grow your business and achieve organisational goals. The Illustrative List of Reports is as follows:
- Profitability by Business Vertical
- Revenue & Margin Analysis
- Comparison vs. Budgets
- Balance Sheet Analysis
- Cashflow Report, with comments
- Receivables Analysis
- Payables Analysis
- Trend Analysis – Revenues, Expenses, Margins
- KPI’s with Graphs and Charts
- Working Capital Analysis
- Ratio Analysis
- Commentary on financials for management discussions
- Quarterly BOD Reporting packs
Month End Closing
Monthly closing is an area where a large number of organisation find it difficult to achieve. The reason they find it difficult is because it involves reviewing the entire operations & transaction of the organisation for the month to ensure that nothing which materially affects the performance results of that particular month is missed out. Closing the books each month sets your numbers in stone. It’s impossible to accurately track performance if someone finds invoices or bills that weren’t recorded on a timely basis, or when someone changes transactions from previous periods. Including a monthly closing process in your regular accounting procedures ensures that your numbers are reliable, stable, and accurate. Proper adjustments and provisions, rectifying mistakes unearthed and giving effects to all applicable accounting standards take huge amount of time and effort.
Finance Optima helps you navigate the labyrinth of monthly closing effectively and efficiently to take the pain out of the process and achieve results to gauge the progress of the organisation and steps to be taken to achieve organisational targets in time.
Audit Preparation
Most organisations find audit a very tedious process. This can become a very painful exercise if your preparations are not adequate in which case the auditors can really give you a hard time and the audit would go on for much longer than planned . This could seriously affect your normal operations and productivity. The problem gets compounded in case multiple audits have to be conducted simultaneously or you have audits for the better part of the year one after the other.
Finance Optima’s experts help you prepare for these audits in an effective way to complete these audits successfully, in time and without affecting your routine normal operations. We help you in planning for the audit, keeping upto date with accounting standard & necessary regulations, developing timelines & assigning responsibilities and organize data.
Accounting Policies & Procedures
Every organisation needs to invest in correct and relevant policies and procedures both from the point of view of effective management and progressive growth. Accounting policies are the specific principles and procedures implemented by a company's management team that are used to prepare its financial statements. The Accounting Policy Manual sets out the policies and operating procedures as approved by the Management of the organization for Record to Report process:
• Account Workflow Management
• Book Closure
• Consolidation
• Internal and External Reporting
Finance Optima’s experts bring to the table their years of experience as CFOs and their experience of diverse industries to help you formulate and implement correct policies and procedures relevant to your organisation, its size and growth.
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