...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
