Management Accounts
Sound business decisions are supported by good information. For your organization to run effectively, it needs to produce regular financial information on its key metrics, and needs to do so in a predictable timeframe and format.
Every operation is sensitive to different metrics, and every manager uses a different approach to their decision making process. The art of a good management reporting system is to find the reporting metrics and level of detail that best suit your organization's personality and objectives. finanSight has the experience and qualifications to work with you to develop the reporting framework, and using this framework, to collaborate with the organization in developing the reports. The information you wish to receive will likely include monthly funds flow statements and information about fund raising, but this is likely insufficient; you need to know how your drivers are performing.
Good management accounts will also include analytical review that will help monitor and improve profitability and asset utilization, and will help you free up resources to invest elsewhere in the business. They will also provide a framework that allows you to make strategic decisions and to optimize operational decisions, such as lease versus buy, pricing, and compensation plans for key management and employees
In addition to design and preparation of management accounts, finanSight offers interim and temporary controller/CFO services, which may be required to bridge through a full time member of management. In this capacity finanSight can take responsibility for preparing the reports for you, in conjunction with managing basic accounting functions, or can train company staff or bookkeepers to perform these functions.