Budgeting and management accounting

To obtain maximum profit, it is necessary to closely monitor the balance of the use of labor, financial and time resources. The budget is an important planning and control tool, which is an indispensable attribute of a well-managed company.

 

WHY DO YOU NEED A BUDGET SYSTEM?

The main goal is to increase the efficiency of the enterprise. Efficiency is enhanced by the next points:

1. In a single balance sheet, we reduce the number of financial flows associated with the formation of revenues and costs. The problem of their coordination at the level of the company and individual units will be solved. Before there will be a full picture, how UAH appears at the enterprise and where it leaves.

2. We fix the budgets for the units. From the director a part of responsibility is removed, and middle managers have the opportunity to manage the incomes and expenses of their departments within the overall budget of the company.

3. The staff will have a material interest in the results of their work, both their own unit and the enterprise as a whole. The actual wage fund of the division is calculated at the end of the budget period by the residual principle as an unused portion of the established cost limit. The limit increases with income growth. It becomes profitable to increase revenues and reduce costs, as this will increase the salary.

4. Budgeting will help you realize all the functions of financial management – accounting, analysis, planning, organization, motivation, regulation.

5. Work with finances is carried out in real time! We take into account the production plan, the schedules for repayment of accounts payable, staffing.

 

DON’T KNOW WHAT SHOULD BE THE BUDGET SYSTEM IN YOUR COMPANY?

We will help you with preparation of the budget and management reporting of any complexity:

• We will develop a breadboard model of budgeting
• We will compose the economic model
• We will calculate various variants of scenarios

 

After all, competent consultations are important not only at the stage of budgeting, but also in the control and analysis of the “plan – fact”. Use all the functionality of budgeting, and the forecasted profit will not keep you waiting!

 

SPECIALISTS

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Eugeniia Abrosymova

Director of Kyiv Branch. Head of transfer pricing practice

Certified auditor – certificate № 007303 from December 24, 2015 valid until December 24, 2020. Member of Association of Tax Advisors Practical experience of management accounting and budgeting setup, investment projects and product launches evaluation, business-plans creation, automation for international companies of more than 9 years.

+38 044 338 12 88

af@audit-invest.com.ua