The powerful impact of managerial accounting
How would you like to increase your profits without adding to the amount of time you are putting into your business?
Effective use of Managerial accounting will help your business reduce expenses, improve cash flow, make business decisions and ultimately increase your financial returns. And who doesn’t want that?
In managerial accounting we take all of the financial data we have about your business and use it to plan, control and evaluate your business activities. Rolled together, these activities improve your business decision making, allowing you to decide between alternatives on a fact-driven basis.
The way managerial accounting will unroll for your business is as unique as your business. What data is important for your organization? What types of decisions need to be made? What are your specific goals?
Beyond the budgeting and budget analysis that every successful organization should undertake a retail business might be interested in forecasting inventory needs, reviewing those often tight profit margins and determining how much they need to make in sales on a daily basis to breakeven or generate a specific income. A service-oriented business may be interested in how much time they should spend with each customer to maximize profit or generating sales goals that tie back into the organization’s revenue plan. A production business is going to be really impacted by the cost of the goods they produce.
Do you have the business intelligence you need to make good, quantitative decisions for your organization?
As you consider your answer to that question, I invite you to give me a call. Let’s discuss where your business is going and what information you already have the foundation for that could turn into instant insight for your business.