Focus Newsletter October 2011
Posted: 12-10-2011 19:53
New Capital Allowance Rates / Business Records Checks / PAYE Penalties / The Bribery Act
Focus Briefing Note No.6
Posted: 12-10-2011 19:51
Paying HMRC Electronically
Focus Briefing Note No.5
Posted: 12-10-2011 19:50
Sale Of Goods
Testimonials
Focus Accounting rock.
- Marc Bradshaw, BEA Solutions Ltd.
Some businesses need more from their advisers than an annual visit and a bill. They may be growing they, may be undergoing change or facing new challenges. Whatever it is, we can provide the support that a Finance Director would give but we can do it in an affordable and flexible way.
Basic Package
Our basic package is designed to put quality information in the hands of decision makers quickly and cost effectively. It works within existing bookkeeping arrangements and supports them where necessary to improve the quality of information. Our role is principally to present the results and interpret the information in a manner that users start to understand and trust.
Standard Package
The standard package is aimed at larger businesses or businesses that require more intensive management, we implement is best through a 4 step approach:
- We start by establishing the current position of the business, normally this would be the last year end accounts, this establishes a base line for the business.
- Together with the owners we would prepare a forecast for the coming year, either profit and loss or profit and loss and cash flow. It is important that these budgets are pragmatic rather than aspirational, they needed to be grounded so that we can understand how the business needs to perform and if this creates problems.
- We would then periodically prepare management accounts (either quarterly or monthly), the degree of our involvement in this and therefore the cost will be heavily dependent on the quality of internal accounting, although we will work with you to improve this if needs be. We then present the results to you and compare this to our forecasts. It can be a very informative process if actual starts to depart from forecast, as we need to explore whether it is our assumptions about the business which are wrong or whether there have been changes within the business.
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The next step is to update the forecast with actual, this shows the expected out turn position to the end of the year, this starts to change the nature of the accounts from
looking over our shoulders to using them to look forwards. Once or twice a year we would review the remaining budget and fine tune this in the light of events.
We have a track record in using this process to improve the management of our clients.
Advanced Package
We can augment the standard package with additional support in cash flow management, strategic planning sessions, preparing business plans, multiple year forecasts.
For larger companies we can sit between the auditors and the board of directors, providing support for the board, while keeping internal control on the preparation of the accounts. We can do many tasks at a significantly reduced cost than the auditors.
In short, we can fit our service around your business needs.