Financial Affairs
“The first opinion that is formed of a ruler’s intelligence is based on the quality of the men he has around him”
- Niccolo Machiavelli
Accounting is concerned with providing information that will help decision makers to make good decisions.
Medici provides a Financial affairs service akin to a full accounting department and Finance Director as you would find in a large corporation, but at an affordable, cost effective price, tailored to suit your needs and with a cost structure that suits you. Fixed fee or retainer our fees are structured to you.
Management accounting – enabling effective cost control, planning, pricing and decision making.
Financial accounting – providing a true and fair view of the financial activities of a business.
Costing
Can you quantify your true profit?
Examining all your business costs and attributing them to the work you undertake is essential for understanding how much and where your profit/loss comes from. Medici can implement a costing methodology which will continuously assess and inform you of the profits your business is making, or not! This knowledge will empower you to manage and direct your business to deliver the best returns on your efforts and investments.
“You have to look for it, Intelligence
never comes by itself”
- Napoleon
- Our services include:
- Identify a costing method
- Assess existing products/services
- Ongoing costing analysis
Decision Making
Knowledge is power! Knowing and understanding your company’s financial position will give you the ability to make informed decisions for the good of your business. This knowledge mitigates risk when arriving at major decisions in governing your company.
“Necessity never made a good bargain.”
- Benjamin Franklin
Budgeting and planning
Do you have a detailed financial plan of how you will convert your efforts into maximum returns?
Working to a financial plan allows for clearer decisions and direction of the business. You can make informed choices of whether to buy or not to buy in any given situation if you have the knowledge of where these decisions fall within your plan.
“Knowledge is of two kinds. We know a subject ourselves, or we know where we can find information on it.”
- Dr Samuel Johnson
- Our services include:
- Assessing your financial position
- Identify key objectives
- Generate a cohesive financial budget
Variance Analysis
“Judge of a man by his questions rather than by his answers.”
- Voltaire
Are things going to plan?
A detailed financial plan is essential to a business but equally so, monitoring the actual performance against this plan is paramount. If you are deviating from your plan you need to know, and fast, whether it’s good or bad! For example, positive results beyond expectation can lead to increased funding needs. If you’re on top of the figures any lender is going to look more favourably at decisions because you demonstrate control and management.
- Our services include:
- Assessing key performance indicators
- Identify variance analysis
- Implement variance analysis process
Performance Management
Implementing a control system which monitors performance within your business will provide the basis for corrective action should it be needed. Early warning systems provide knowledge to ensure things that may be going wrong don’t do so for long. Identifying the key factors within your business will give you peace of mind via a performance management system.
“In giving advice, seek to help, not please, your friend.”
- Solon
- Our services include:
- Assessing key performance indicators
- Implementing performance management systems
Accounting Control Systems
Check and cross-check! Keeping records is one thing but you need all the safety checks in place to guarantee the records are being kept correctly. You need to have the comfort that your accounts are accurate as well as timely. We can test your existing systems or implement one for you from scratch. You can have the confidence that your financials are based on sound systems designed for accuracy.
“An Order is easily given, but consider the trouble it takes to carry it out.”
- Napoleon
- Our services include:
- Assessing your current processes
- Recommending modifications
- Implementing a sound control system
Book-keeping
The basic need in the financial affairs of a business is to account for all the transactions it makes. This includes all sales, purchases and expenses. Medici can offer a service to process all your financial paperwork and keep your business records accurately.
- Our services include:
- Processing all invoices and expenses
- Maintaining accurate nominal, purchase and sales ledgers
- Generating basic reports of creditors and debtors
“My problem lies in reconciling my gross habits with my net income.”
- Errol Flynn
Cash Reporting
Do you have a clear picture of your current and future cash position?
Do you know the working capital needs of your business?
Cash is King ! A well worn declaration but one which has been proven time and time again. It is essential a business understands the cash it uses within itself and its cash cycle. If you need funding a clear plan will be the bedrock of any decision made by a lender.
- Our services include:
- Assessing your cash position
- Identify cash utilisation
- Generate a clear cash forecast
“We regard wealth as something to be
properly used, rather than as
something to boast about. ”
- Pericles of Athens
Profit & Loss - Balance Sheet - Financial Ratios
The financial reports of a business provide a clear picture of the position of that business, They declare the performance of the business in terms of profit generated or lost and the strength of the business through its assets and liabilities. These are essential documents for the owners and managers to understand and use as tools for running the business. Identifying key ratios will provide a snapshot of the business trend and performance.
“Prudence consists in being able to assess the nature of a particular threat.”
- Niccolo Machiavelli
- Our services include:
- Designing suitable reports
- Identifying key ratios for analysis
- Producing regular reports for the business