Kedwell & Co will apply professional accounting knowledge and skill to prepare and present regular monthly financial and other decision oriented information to meet the information needs of your business, to assist in the formulation of policies and in the planning and control of the operation of your business.
To achieve this for your business Kedwell & Co will work with relevant staff to:
- Create a budget for your business - A budget allows you to set financial targets and measure your business's performance. In addition a budget will often improve your business's chances of acquiring bank funding.
- Determine your business's key performance indicators (KPIs)
- Develop the periodic management reports to measure the KPIs
- Summarise the KPI measures in a dashboard style balanced scorecard report
- Establish a regular management meeting - To go through these periodic management reports and plan ahead.
These are powerful tools for controlling your business. If your business has been through the strategic planning process and has developed KPIs that measure whether the strategic objectives are being achieved, the monthly management report can tie your business performance metrics and initiatives to strategic objectives so that business performance can be measured, accountabilities monitored, communication encouraged, and informed decisions made. If in fact actual performance does not meet the budget, then you can go back to see where the difficulty arose.