Building Block #1

Quite simply, you need numbers that accurately reflect the past and current position of your business. These numbers will provide the basis for all analysis going forward, and thus must follow accurate accrual accounting. The numbers must also be presented in acceptable accounting principles format so they can be compared to industry and internal benchmarks. These numbers will be the basis for developing key metrics by which management can maintain the pulse of the business. We will assess your current accounting system, and give you suggestions for improvement if needed.

Following are the deliverables in the first building block of financial management:

  • Three to five years company Income Statement and Balance Sheets presented in a usable format.

  • Our assessment of the financial statements usability, and suggest any possible changes.

  • Suggestion of other key variables you should track;  Number of employees, hours of capacity available etc.

  • Provide any industry numbers available through standard benchmark services or trade associations (if available).

 

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