A management accounting system is among the main factors for making managerial decisions.
Management accounting is a tool for immediate response to changes in current situation, unbiased estimation of one’s own business activity and making the most reasonable decisions.
Management accounting system helps to provide for:
- latest and reliable information about the status and results of entity’s performance in regard to its compliance with stated objectives;
- efficient control over entity’s financial flows, liabilities and assets;
- latest information needed to plan the performed activity and assess entity’s strengths and weaknesses;
- transparency of financial management system.
However, absolute reliability of the presented information is the main factor. It is not uncommon that outdated or incomplete data is presented, or authenticity of the received information arouses suspicions, or the specifics of accounting system makes it impossible to specify strengths and weaknesses, as well as to minimize losses.
Using unreliable data in making decisions may cause the most undesirable or even irreversible effects. The importance of reliability and relevancy of information is ever increasing due to current slumping demand and growing overdue receivables.
Our experts fully understand the importance of management accounting for our Clients. That is why they carry out audit that allows getting qualified and unbiased evidence of authenticity of management accounting data.
Within the frame of management audit our experts assess:
- authenticity and relevancy of presented data;
- efficiency of the applied accounting methods and worked out management reports;
- effectiveness of methods of confidential data protection used by an entity.
Management audit results in a report which includes description of all detected errors and guidelines for handling them, as well as advice on improving management accounting and reports and methods of optimization of confidential data protection system.
Rendering management accounting services we guarantee both the highest possible quality of our services and commercial secrecy.