What is Management Accounting?
Management Accounting is the analysis of an organization's financial standing for the purpose of improving the decision-making process by managers and owners. In its simplest form, think of a CFO or Controller. This includes setting up books, reporting & analysis, making recommendations, and implementing processes, all while complying with industry standards and norms.
I strive to make Management Accounting a human service. While accounting is about numbers on the surface, the numbers have impacts on and are affected by the people around us. I work hard to remember this and to work accordingly. I also understand that a majority of the people I work with are not accountants by trade, so I strive to present information that is easily understood by all.
Unfortunately, accountants are usually viewed as the bearers of bad news. While bad news is sometimes inevitable, I also share good news. Examples of the organization's success should not be ignored. I also believe that bad news should always be accompanied by proposed solutions.
The accounting process does not exist in a vacuum. Therefore, my services also include insights into general business considerations such as operations, legal, labor, insurance, compliance, and information technology.
I perform my services with a meticulous nature and stay on top of current events, industry trends and education. Since I enjoy what I do, I enjoy continually learning about my field and my clients.
Practical Skills + Services.
Project & Cost Accounting
Cash Flow & Forecasting
Budgeting & Variance Analysis
General Finance & Treasury Administration
Performance Metrics & Benchmarking
Audit Preparation
Firm Valuation
Timekeeping & Utilization
Payroll
Asset Management
Financial Systems Overhaul
Mentoring & Staff Development
Business Development & Marketing
Policies & Procedures
General Operational Analysis
Familiarity with Insurance, Legal, Labor, HR
Industries Served.
This list is not exhaustive, so if you feel we may be a fit, I hope you get in touch.
Architecture
Design
Construction
Real Estate Development
Not-for-Profits
What is my process?
Start.
My process starts with getting to know the organization and its owners; its problems & successes; its history & goals. I will perform an initial interview and then provide a plan of action based on what I learn.
Plan.
The plan of action will begin with an initial assessment by analyzing current and historical financial reports and mapping out current processes. I am then able to identify both areas of concern and areas of success.
Action.
The next step is offering improved reporting designs and scopes, implementing new processes and procedures, and training staff and owners. All the while, balancing the needs of the firm with compliance requirements.
Repeat.
As we continue to work together, I will review our progress on an ongoing basis to ensure that the accounting function remains pristine.
What don't I offer?
I am not a CPA (Certified Public Accountant), which means that I do not file tax returns or conduct audits. The separation of Management Accounting from CPA work is typical and even preferable, as it is important to engage professionals who are experts in their specific fields (as opposed to being just a little familiar with multiple fields). In some cases, the separation is a legal requirement. While I don't file tax returns or conduct audits, I am familiar with both concepts and conduct my work with sensitivity to both. I have formed positive relationships with many CPAs throughout my career and would be happy to connect you to one that matches your tax or audit needs.