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Management accounting and reporting

Goals and Challenges

  • Create a singular, integrated management data system built into the management system at every level of decision making.
  • Introduce a tool to support management policy on operations and business strategy; eliminate data duplication; and maintain authenticity of financial and non-financial performance indicators.
  • Create or expand reporting package for external users by including important indicators of management performance. These include profitability of production and sales margins; cost analysis; debtor and creditor analysis and variance analysis.
  • Systematize financial and non-financial indicators for decision making and achieving goals set.

Our services

Deloitte CIS offers a full range of services for identifying, assessing, collecting, analyzing and interpreting management information. The management information is then required for planning, assessing and controlling company performance and ensuring efficient use of company resources.

We are experienced in developing and improving management accounting procedures and methodologies for numerous industries. With our knowledge of industry best practice, we help our customers in creating an integrated management reporting system for all operational functions, subsidiaries, units, centers of responsibility, KPIs, management information blocks, contractors and IT support systems.

Our professionals are experienced in auditing management reporting systems, identifying opportunities for optimizing management reporting content and quality, creating plans for developing and implementing methodologies for aligning management reporting with international financial reporting standards, and automating management reporting.

Our approach

Depending on a company’s business and the extent of development for financial/management accounting and planning functions, a project may involve establishing separate management reporting components or creating and implementing a comprehensive solution. Our approach to implementing a management reporting system starts with a diagnostics of the existing system and then developing a basis for management accounting, ending with support for the introduction of automated transaction accounting, data processing and reporting solutions. Our approach also engages client’s employees’ actively in the project, which significantly cuts down the time required by the employees to learn how to carry out their duties in light of the changes we suggest.

How your business will benefit

The main project benefit is higher quality management reporting that can be prepared in a shorter period of time.

Developing management accounting and reporting systems results in the following:

  • An album of reporting forms containing a set of financial and non-financial performance indicators and giving the level of detail required for various user groups;
  • Management accounting policy and description of management reporting principles;
  • Analytical data books used for gathering data used for calculating and analyzing indicators;
  • Algorithms for calculating management reporting indicators;
  • A model in MS Excel or another information system for forming management reporting package based on actual and planned data;
  • Regulations for management data gathering and reporting, specifying timing and employee responsibilities;
  • Training company staff on autonomous preparation of management reports.

 

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