Winters and Associates
Bookkeeping and Information Reporting
Business Process and Accountability
One of management’s most important functions to hold the company and its employees
accountable for performance. An important tool used to measure performance, and to support management's mission of accountability, is the company's financial reporting system.
Sadly, In many of the companies that we visit, the financial statements cannot be effectively used for
perfomance assessment or accountability. What we discover is that company reports ybased on
standardized formats are designed more for reporting to the government (compliance)
than managing the business.
In order to provide measures for accountability, the financial reports should emulate the business processes. Only then can you identify the profitability impact of cost centers, regions, divisions and/or individuals.
In our Management Information Reporting Division, our first step in working
with a new company is to review the company’s business process. Only after
that review can we deliver an accounting system that will
ultimately provide a better view of how the business operates.
When the financial reports mirror the business process it is far easier for
management to hold the mewmbers of the organization accountable for performance. Not only
can performance be more easily reviewed, better planning opportunities are
available. Forward-looking budgets can be prepared with more participation
at all levels. Once budgets are compared, accountability can be extended
beyond just measuring what deviated from expected standards, but what is
deviating from future expectations.
Our Management Information Reporting Division is experienced and adept at helping your
organization gain insight into its accounting system and in guiding you and the organization in
creating an effective forecasting and budgetary process.
Winters and Associates