Strategic Financial Solutions : Accounting Management

Accounting Management

Accounting Management Process

	What is accounting management?

	CFO responsibilities in the accounting management process

	Our experience

What is accounting management?

Accounting Management Process

CFO responsibilities in the accounting management process for:

...an emerging business:

	Create chart of accounts & general ledger

	Establish banking relationship

	Develop cash policies & procedures

	Reconcile balance sheet

	Complete emerging business strategic financial management

...a small business:

All of the emerging business fundamentals listed above, plus:

	Establish operating & capital budgets

	Create balance sheet account reconciliation process to prove accuracy of financial statements

	Complete comprehensive accounting policies & procedures

	Hire outside audit firm

	Complete small business strategic financial management

...a medium or large business:

All of the emerging and small business fundamentals listed above, plus:

	Eliminate monthly accruals

	Automate routine transaction processing where possible

	Focus accounting function on production of predictive financial information

	Finance should be fully integrated into strategic decision-making process

	Focus should be on evaluating strategic opportunities

	Should manage performance measurement system

	Complete medium and large business strategic financial management

Our experience

	7 years of experience in annual negotiations of US and foreign banking agreements

	Reduced annual budget cycle from 10 to 3 weeks for a mid-sized manufacturer

	Reduced month-end close from 7 to 2 days, year-end close from 4 to 2 weeks and annual audit from 5 to 2.5 weeks for $40 million company

	Eliminated labor, variance, job-step and WIP reporting; the use of work orders and MRO purchase orders for manufacturer

	Developed policies & procedures for start-up organizations

	Re-wrote accounting policies & procedures for nonprofit organization