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James Cowper Kreston's outsourcing team will work with you to agree exactly what is suitable for your business, making sure that you meet any regulatory requirements and take advantage of our experience of working with a wide variety of different businesses.
For most businesses, monthly accounts are important, but for fast-moving businesses more frequent information is needed. On the other hand there may be smaller, well established businesses where quarterly accounts are sufficient. We will work out what is right for you.
In assessing your management reporting requirements, we will also assess what the key performance indicators (KPIs) are for your business. We can create a 'dashboard' of all your KPIs so you can see at a glance how your business is performing.
We work closely with our clients to make sure that all relevant reporting deadlines are met. A fast month-end close is often important for international groups where UK company information is consolidated into worldwide figures.
Reporting can be as detailed as you want, and typically might include:
'Month 12' reporting is important for many companies to ensure that accurate information is available for the year end statutory accounts and audit. We work hard during the year to make sure that there are minimal adjustments at the year end. Frequently we also prepare the statutory accounts, and will liaise with other members of the James Cowper Kreston team to make sure all relevant information is made available to help in the production of statutory accounts. We can also liaise with your auditors and provide them with an 'audit file' to make sure that the year end audit runs smoothly. Again this may be the James Cowper Kreston team - we can therefore provide an integrated approach to your year end requirements, naturally whilst ensuring that suitable safeguards are in place so that the audit assignment meets regulatory independence requirements.
We always follow up management accounts and KPIs after we have sent them to you, and raise relevant points with you. This helps ensure that appropriate action is taken in response to business performance, rather than you just being presented with a mass of information.
For some clients we provide regular input at management team or board level, ensuring that the management accounts and KPIs are a starting point for making key financial decisions.