A certain business over the size, but effective and efficient for the sake of management, support for the planning and control processes necessary to achieve the set goals may be necessary even for smaller businesses.
Regular monitoring and review of financial and management processes is essential for this activity. For this, we can provide a significant amount of support from the accounting side through periodic reports, such as planning and actual data reporting (controlling), budgeting (budgeting) and everything else that supports management activities through data provision (monitoring).
Controlling
As is typical for financial (controlling) support, our customers determine the range of information required for management decisions, the regularity, format and process.
Typically, it includes the processing, systematization, evaluation and analysis of data found in accounting according to specific criteria (grouping different from accounting items) at regular intervals, for example monthly. If required, we can also prepare it in a foreign language.
Budgeting
Another major area is the preparation of a periodical budget, which in practice precedes the controlling activity, since its initial, comparative forms its data. We do this on the basis of benchmarks given by our customers and based on the performance data of the previous period for the company. Of course, planning has a significant influence on the company's plans and market conditions, which we take into account based on the evaluation of our customers.
Monitoring
We could say that this is the same as controlling, although it works similarly, is not the same. In part, the range of data is significantly narrower and typically focuses on the control and monitoring of one process at a time. It usually includes ad hoc or shorter-term periodic reports. We usually recommend this form of report to any business, with the content it requires.
This information is suitable for monitoring the internal processes, finances, and management of the business, in many cases, in the case of foreign owners, subsidiaries, or companies listed on the stock exchange. this is an essential process.