Financial control and management function

In order for business owners to make good decisions and exercise sound judgement they need access to insightful management reports providing relevant analysis of the financial and operational performance of the business. However not all businesses can afford, or
require, a full time accountant while others need additional expertise.

Here at HLB McKeogh Gallagher Ryan we can provide assistance to clients for once-off assignments and/or on an on-going basis.

We can, in consultation with our clients, prepare management reports to pre-determined monthly or quarterly deadlines.

MANAGEMENT REPORTS TYPICALLY INCLUDE:

  • Profit & loss period and year to date
  • Balance sheet including prior period comparison
  • Cashflow
  • Budget variance analysis
  • Age debtor analysis with identification of provision for bad debts
  • Age creditor analysis
  • Summary of outstanding taxes due (CT; VAT; RCT; PSWT; PAYE/PRSI)

Hand-in-hand with generating management reports is ensuring they feed into the budgeting and performance measurement process. We work with our clients to ensure that reporting procedures are put in place to generate financial information which is relevant, accurate, timely and most importantly can positively influence decision-making within a business.

WE ASSIST OUR CLIENTS WITH FINANCIAL ANALYSIS BY:

  • Benchmarking against budget figures and industry norms (where applicable)
  • Comparisons with last year’s/quarter’s figures
  • Identifying and interpreting trends
  • Reviewing rolling monthly budgets
  • Generating cashflow projections
  • Providing cash and stock management recommendations
  • Setting cash collection targets
  • Reviewing the working capital cycle