Managerial accounting and controlling are essential for business, as they enable effective resource and process management, identify areas for improvement, and support strategic goal setting, planning, and business steering. They contribute to making well-informed business decisions, enhancing a company's 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 stage of development. Large enterprises and those operating in rapidly changing sectors are already aware that controlling is a key and indispensable element of their business strategy. Smaller companies, on the other hand, focus primarily on maintaining accurate bookkeeping and payroll administration to ensure compliance with legal regulations. At the same time, they may not realize how much valuable information for key business decisions can be provided by managerial accounting and a properly tailored controlling system suited to their specific needs.
At PKF, we understand that it is small and medium-sized enterprises, as well as growing companies, that need tools for analyzing financial and operational data—tools that are within easy reach. 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 the perfect solution for enterprises striving for optimization, increased profitability, and the systematization of their financial, accounting, and business processes in the face of constant change.
PKF's Managerial Accounting and Controlling Service
The managerial accounting and controlling service at PKF enables companies to transform numerical and operational data into clear and reliable information essential for effective management and key business decision-making. With advanced reporting tools, we provide valuable financial and managerial analyses enriched with expert recommendations. These serve as a foundation for company executives to make decisions that drive cost reduction, improve process efficiency and resource utilization, and maintain a competitive edge in the market.
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.
The implementation service for managerial accounting and controlling includes a comprehensive analysis of business operations, existing financial processes, available resources, and their utilization. It also involves identifying key business performance indicators (so-called business drivers) and developing reporting tools and templates designed to provide the management with critical insights into business efficiency.
We offer the development of controlling principles, support in implementing reporting systems, and financial analyses, including cost, profitability, and liquidity analysis. Additionally, we specialize in cost and budget control, providing the necessary tools for effective financial management.
With our services, enterprises can consciously define their goals, plan actions, and steer their business while building their strategy with confidence. They can be assured that their business decisions align with defined objectives and will ensure the company's secure and sustainable growth.
Importance of Developing Controlling Principles and Systems
A controlling system in enterprises is a set of tools and procedures ultimately used for defining goals, planning, monitoring, analyzing, and optimizing all business processes. Its primary objective is to support management in making strategic decisions, ensuring operational efficiency, optimizing resource utilization, streamlining processes, and achieving the company's financial goals.
It is essential because it enables the identification of areas for improvement, minimizes risks, increases profitability, and supports future planning, contributing to the sustainable growth of the enterprise.
Controlling tools include, among others, budgeting, the implementation of a cost accounting system tailored to the company's specifics, 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.
One of the most important goals of controlling and managerial accounting is to integrate plans and objectives into a cohesive and coordinated whole and to disseminate them throughout the organization. This is particularly crucial for all decision-makers within the company who influence the achievement of the goals defined in the 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.
- Verification of the existing controlling system.
- Audit of internal processes, interviews with key employees responsible for achieving the company's objectives.
- Development of controlling principles, design of changes in existing processes, creation of proposals for the chart of accounts, cost centers (MPK), changes in cost accounting, and modifications in other systems.
- Designing report templates, budgets, or other summaries.
- Development of procedures, instructions, and support in spreading knowledge within the organization about the objectives and benefits of implementing a managerial accounting and controlling system.
- 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, customer segments).
- Implementation of cost accounting, e.g., implementation of resource and process-based cost accounting (ZPRK) or activity-based costing (ABC).
- 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?
Implementing managerial accounting in a company allows for effective management through the analysis and interpretation of financial, operational, and supporting 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.
