The provision of information in the way described above [below?!] is our principle area of expertise. Over the years, we have anticipated and adapted to the changing expectations of the modern world of business and continued to deliver a service that exceeds expectations. The traditional view of accountants as ‘scorekeepers’ is now long obsolete. We recognise that the demands of modern businesses are now such that we have to be skilled, not just at providing the right kind of information, but doing so in a manner that is intuitive and easy for people without a financial background to use.
Whatever the type of information you require, for whatever type of meeting or performance review activity, we will always take an holistic approach; investing the time required to understand your business, your needs and, above all else, the way you want us to meet those needs. We can produce a wide range of Bespoke Reports on any aspect of your business, as well as offering all the traditional information that you might require. We can produce charts, tables, graphics and graphs to illustrate your data, even a realtime dashboard [link to dashboards] and subject it to any process you can conceive. In all aspects of our service, our aim is to put power in your hands.
How you receive this information is also important. We prefer to work closely in partnership with you, and favour face-to-face meetings for the provision of information, but we’re also happy to act as a point of internal or external outsourcing. We can provide the reports you require electronically, as hard copy, or even as an electronic delivery to your office or boardroom printer on the day of your meeting.
We offer a free initial consultation to all our new customers, so if you’re looking for a different level of information quality, why not take advantage of this to tell us what you need?
Whether it’s a monthly management meeting or a performance review for a particular member of staff, having the right kind of information at your fingertips is a crucial part of performing well as a director or as a manager. Information is usually provided for a specific purpose, either to support the making of a particular decision or for the purposes of specific control measures. In all cases, the quality of the information provided is critical to the success of any action taken.
The provision of high-quality information is one of the central roles of a management accountant and CIMA (The Chartered Institute of Management Accountants) gives clear guidance as to the definition of this quality. According to their definition and the principles of our own practice, information used in business must be:
• Accurate – The appropriate level of accuracy will depend on the use to which the information is to be put. For broad overviews of departmental performance, figures to the nearest £1000 may be appropriate, but for planning and detailed reports, figures accurate to the dollar or even the cent may well be required.
• Complete – All relevant information must be provided, without the inclusion of excessive information. The level of detail required will, in part, be specified by the management team and directors, but may also reflect the technical requirements of the task at hand.
• Cost Beneficial – The value of information provided is given by the saving or revenue increase that comes about as a direct consequence of that information. In all cases, the value of information should exceed the cost of producing it.
• Understandable – The use of technical language and jargon must be strictly limited, particularly when providing financial information for managers with a different background and training.
• Relevant – No redundant parts should be included in a report. Information necessary for completeness (see above) and for the decision at hand is all that is required.
• Authoritative – Information must be trustworthy and from reliable sources, so that decisions based on it can be made with confidence.
• Timely – Reports must be delivered complete and on time so that they are useful in the decision making process.
• Easy to use – Information must be presented in a format that suits the users’ needs. It must be intuitive, useful and easy to understand, regardless of the background and training of those users.
Information must be appropriate for the operational level at which it is to be used. Strategic decisions are often based on external information, such as the wider economic climate, the behaviour of competitors, the price of raw materials, and so on. There is usually a much greater role for forecasting here too, although historical information may still play an important role. Strategic decisions are typically unstructured, long-term and wide-ranging, having a large impact on the organisation as a whole, and the information provided by accountants should reflect this.
Management decisions provide the link between the strategic and operational levels. They might encompass a number of departments and contain a moderate level of operational detail. The information required for these decisions is typically a mixture of internal and external, and will usually be used to affect changes across sections of the company; teams, departments or processes in small and medium-sized enterprises.
Operational decisions affect the day-to-day running of specific departments, processes and workflows. They typically require detailed historical information about small aspects of the operation: lead-time, supply volume, comparative distribution costs, etc. The impact of these decisions is limited to small sections of the operation and will be implemented on a much shorter timescale.
Communications with HMRC & Companies House
Self Assessment Tax Return
CT600 (Company Tax Return)
Monthly Management Accounts
Accounting Systems Set-up
Business Startup – Company Formation
Benchmarking and KPI’s
Virtual / Part-Time Financial Director / CFO
Non-Executive Director (NXD/ NED)
Disaster Recovery Systems
Monthly / Quarterly / Annual Performance Meetings