OPERATIONAL SUPPORT & ENHANCEMENT

OPERATIONAL SUPPORT & ENHANCEMENT

Operational support includes but not limited to: managing and leading accounting software conversion; managing financial audit processes and preparation of audit reporting package; develop cost reduction and working capital improvement program; review overhead costs, contracts and active supply chain management; review accounting processes and recommend standard operating procedures; review internal controls and recommend standard control procedures; as well as providing an on-going advisory service.

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Internal Control Review and Recommendation

Internal control is the process of assuring achievement of an organization’s objectives in operational effectiveness and efficiency.  This process relies on reliable financial reporting, full compliance with laws, regulations and policies.

Internal controls can be assessed in:

  • Financial accounting and reporting
  • Compliance to laws, regulations and policies
  • Operations effectiveness and efficiency

Internal control is very important as it hinders the company’s success if there’s none set up. However, with good and effective internal control, it is ground for the company’s success, and makes the practical goals more easily attainable. It also reduces audit fees or any due diligence because the systems in place work well to produce accurate and timely information. The checks and balances that are present in a good internal control saves the company time, money and other resources, thus positioning the company for growth.

What can we do to help:

  • We come in and assess your current internal control processes and procedures
  • We walk you through all or some of the processes to gain full understanding
  • We assess and recommend effective and efficient internal control procedures and processes
  • We monitor internal control to ensure continues application, as well as recommend revisions where necessary

Accounting Software Set-up and Conversion

When a company starts a business, the software used is basic and caters to the company’s needs at that point in time. Fortunately, when the company grows, some software is no longer effective enough to handle the growing and complex transactions. Therefore, it is then time to decide on a software conversion.

We can be your consultant in guiding you as you try to explore the many facets of accounting software. Our services includes:

  • Help in identifying an appropriate software for the company
  • Managing of the setting up of the migration process
  • Managing of the planning process of the software conversion
  • Managing of the operations phase of the software conversion
  • Answering of queries during the operational posting phase
  • Reviewing the financial statements upon conversion to the new software to ensure they were being posted correctly.
  • Over-all reviewing to ensure everything works the way it should be before going live

The operational phase (posting of transactions to new software) will be handled mostly by internal accountants. We are here to guide, help and give appropriate direction as needed base on planned activities.

Before we start the operational phase, we will provide a thorough plan with effective dates.  We will present this plan to everyone involved with the project so that everyone is aware of the process. It is important that everyone involved knows the entire plan for an effective conversion process.

Project Cost Review & Analysis

Do you have various projects in the company and not sure which project is doing well? Or, you wanted to assess how these projects are performing? Our company can definitely assist you in these matters.

It is indeed very important to assess how your projects are performing, both in cost and revenue perspective. This gives the management a good decision making tool as to continue or shutdown the project line in order to give room for better revenue generating projects, and the reduction of costs.

What can we do to help:

  • Ensure that accounting are done on by project/job basis – all revenue and all costs for the projects are booked accordingly
  • We review the financial statement by project/job and provide analysis
  • Provide an analysis to either continue or shutdown a project based on its financial aspects, operational aspects and management’s goals.
  • Continue to monitor the project until its completion, and provides recommendation along the way

Financing & Funding

Are you in the middle or thinking about getting financing from banks or investment companies and you don’t have time nor the resources to comply the rigid requirements? We can fill in this project for you.

How this works:

  • We serve as a liaison between the company and the financing institution
  • We will provide all the required documentation that the financing institution needs – either taking it from your current financial information or building the information ourselves
  • Work with your current accountant and use current resources available
  • Or we can develop finance workbooks ourselves to meet the financing institution’s guidelines and structure
  • We can serve as a guide or consultant until the financing project is done
  • We will do everything that’s needed to get the financing project secured and successful