Financial Reporting and Business Performance

The way to measure the performance of a business is through its financial reports. These allow the owners to understand what return they are making for their efforts in the business and/or what return they are earning on their investment in the business.

Business improvement strategies can only be evaluated by comparing financial reports before and after implementation.

Other decisions, such as buying or selling the business or obtaining finance, are also dependent on accurate and timely financial information.

Accounting Systems, Cash Flow and Financial Control

The money owed to a business by its customers needs to be monitored, and accurate and timely invoices and statements need to be sent to them. Without this, the business’ cash flow will not be maximised.

For these reasons, business owners must have reliable and accurate financial systems and reports.

Rands Advisory Group can help you implement or upgrade your accounting system so that the reports it provides benefit the business owner the most.

Cloud Accounting, Setup and Ongoing Support

We can help you decide what kind of system to choose, which supplier best meets your requirements, and whether a cloud-based accounting system is right for you. We can arrange the purchase and set up of the package and help transfer the information from your previous system for use in your new one.

With the emergence of cloud-based technology, the provision of up-to-date and reliable information has become significantly easier and cheaper to access.

Rands Advisory Group can help when staff are not available or if you need specialist accounting, taxation or GST advice to enter transactions correctly. We can help you or your staff work out month-end checks of system accuracy, running off necessary reports and how to do backups and other security measures.

Besides that, Rands Advisory Group can also prepare financial reports that suit the required purpose of the business owner. These can be regular management reports to allow profit, cash flow, or other key indicators to be monitored or reports for regular business owner, financier or investor use.

Accurate and timely financial reports are also one of the ways the business owner can prepare timely and accurate income tax returns or forward forecasts of likely income tax liabilities.