Construction of the management accounts

The current conditions require new approaches to the organization of management reporting. In a rapidly changing business environment significantly increases the information flow which need to be developed into the comprehensive management solutions.

Expanding range of administrative tasks undertaken by production manager leads to the need for separation of powers, including decision-making process.

We can help to ensure the process of solving "routine tasks" at the lower management level, thus allowing you to focus on following long-term issues, on developing organizational strategy.

"ERFOLG und GENAU" will help you to design a management accounting system which means an universal set of rules and algorithms that ensure the timely gathering of reliable and adequate information for decision-making.

There are several approaches in construction of a management accounting system:

  • Management reports are made on the basis of existing accounting infrastructure;
  • Creating new accounting system based on understanding of the nature of the transactions and valuation of the net present value of the company's assets and liabilities;
  • In designing of management accounting methodology we are using International Financial Reporting Standards (IFRS).

We are carefully evaluating all the possibilities arising from the use of solid international experience in developing of the accounting systems as a basis of the management reporting with reconciliation to IFRS based set of accounts. Initially IFRS are oriented on specific users and fundamentally are designed to increase the usefulness of financial information for decision-making end-user.

Management reporting is fully dependent on the unique issues of the company’s business, requirements of the management to information generated, characteristics of business processes and financial structure of an entity. This is the reason why the management accounting does not have common rules and reports. Nevertheless, there are some simple steps that will help you as soon as possible to implement management reporting or improve an existing one, without spending on expensive and extensive information system.

Our team has solid background in the successful implementation of projects of development and supporting of the management accounting systems for large businesses.

We are ready to help you!