Managerial accounting and controlling are essential for business as they facilitate effective resource management, identification of improvement areas, and support strategic planning, contributing to increased competitiveness and profitability.
Target Audience for PKF's Managerial Accounting and Controlling Services Many companies recognize the need for a controlling department, though the degree of this awareness can vary depending on the company's size, industry, and organizational culture. Large enterprises and those operating in rapidly changing sectors often view controlling as a crucial element of their business strategy. In smaller companies, the focus is typically on accurate bookkeeping and payroll management to comply with legal regulations, without realizing the vital insights managerial accounting can provide for key business decisions.
At PKF, we understand that small and medium-sized enterprises (SMEs), and growing companies particularly need tools for financial data analysis that are readily available. We especially recommend implementing managerial and controlling processes, and systems for organizations facing staffing shortages in accounting and controlling departments due to rapid growth, struggling with new legal requirements, process bottlenecks, work duplication, lack of effective management reporting, or needing a fresh perspective on existing processes. Implementing managerial accounting and controlling with PKF is an ideal solution for companies aiming to optimize and systematize their financial-accounting processes amidst continuous changes.
PKF's Managerial Accounting and Controlling Service PKF's managerial accounting and controlling service enables companies to transform numerical data from accounting records into clear and reliable information necessary for effective management and key business decisions. Through advanced reporting tools, we provide valuable financial analyses enriched with our experts' recommendations. These serve as a basis for company boards to make decisions that impact cost reduction, efficiency improvement, and maintaining competitive market advantage.
At PKF, we believe that in a rapidly changing business world, quickly and accurately delivered management information becomes the foundation for wise management and maintaining a stable organizational position.
Our service includes a comprehensive analysis of the conducted activities, existing financial processes, identifying key business performance indicators (known as Business Drivers), and developing tools and reporting templates focused on providing management with essential efficiency information. We offer the development of controlling principles, support in implementing reporting systems, and financial analyses, including cost, profitability, and liquidity analysis. We also specialize in cost and budget control, providing tools necessary for effective financial management.
With our services, businesses can make informed business decisions, which are crucial for their safe development in a dynamic market environment.
Importance of Developing Controlling Principles and Systems A controlling system in businesses is a set of tools and procedures ultimately used to monitor, analyze, and optimize all business processes. Its primary goal is to support management in making strategic decisions, ensuring operational efficiency, and achieving the company's financial objectives. It is necessary as it enables the identification of improvement areas, minimizes risk, increases profitability, and aids in planning future actions, contributing to the sustainable development of the company.
Controlling tools include budgeting, ratio analysis, management reporting, and decision support systems. These tools help identify areas requiring improvement, forecast market trends, and increase profitability, which is crucial for maintaining competitiveness and achieving business strategy.
PKF's Approach to Implementing Managerial Accounting and Controlling Implementation Stage Understanding the organization's business profile combined with an analysis of management's needs in managerial accounting and controlling, identifying key business efficiency parameters. Possible verification of the existing controlling system. Development of controlling principles, creating a proposed chart of accounts, cost centers, report templates, budgets, or other summaries. Active support in implementing the management reporting system. Analysis Stage Monthly preparation of summaries and reports, including not only numerical summaries but also their analysis with comments and recommendations for the management team. Examples of Managerial Accounting and Controlling Implementation Areas: Implementing profit centers (e.g., based on organizational divisions, regions, product or service groups). Cost, break-even, and sales analysis. Examining the company's financial liquidity and implementing reporting in this area. Cost optimization analyses. Ratio analyses, including those required annually in the company's activity report. Budgeting support, including designing budget templates or execution reports. Preparing other specific managerial accounting analyses. Benefits of PKF's Managerial Accounting and Controlling Service for Companies: Filtered financial information necessary for making strategic business decisions. Reliable and clear information for management, financial analyses with conclusions. Ongoing efficiency control at the level of individual departments or business lines, improving collaboration between organizational units. Access to solutions for cost reduction, increasing profitability, and company efficiency. Comprehensive business process analyses, considering opportunities to minimize risk and maximize chances. Quick response in crisis situations. Reliable and user-friendly reporting tools. Implementing Managerial Accounting and Controlling – Still hesitating? I mplementing managerial accounting in a company allows for effective management through the analysis and interpretation of financial data. It enables accurate management decisions, planning, and controlling the company's situation, as well as building a competitive market advantage. Consequently, businesses can quickly respond to changing economic conditions, minimize risk, reduce costs, and increase profitability. Managerial accounting forms the foundation of conscious management, providing key information necessary for effective management and building a competitive edge.
Does your organization face any of these challenges? Staffing shortages in accounting and controlling departments? Dynamic organic company growth? Difficulties in implementing new formal-legal requirements? Process bottlenecks? Work duplication? Unsatisfactory management reporting? Lack of fresh, objective perspective on organizational processes? Lack of time for systematizing and optimizing financial-accounting processes? Do you feel that the only constant in your organization is the certainty of continuous changes? Want to find out what controlling tools your company needs? Do you want to find out which controlling tools your company needs? We will tailor analytical tools to your needs. Contact us.
