Management accounting set-up
Management accounting set-up is the process of designing and implementing a framework for collecting, processing, and analysing enterprise activity data necessary to support informed decision-making.
FBK offers integrated project solutions for developing, bringing up-to-date, and optimising management accounting systems. The goal is to enhance the efficiency of managing the organisation’s financial and operational activities, with a focus on modernising the following functional areas: business planning (budgeting), costing, treasury, sales and procurement management, and analytical components of management accounting
Management accounting set-up includes the following stages:
- Diagnostics of management accounting set-up. The client hands over current documentation, comprising regulations, methodologies, reports, flowcharts and structures relevant to the project scope. Interviews with key employees within the survey parameter are conducted to understand the current and target operating models, business specifics and existing processes, problem areas, and improvement trajectories.
- Development of management accounting methodology: budgeting, costing and treasury. Aligning management requirements with differences between statutory and management accounting, balancing of these requirements, and designing financial structures, responsibility metrics, and a unified budget classifier, an album of budget templates, algorithms for planned indicator forming and methodology of fact formation. Creating approval workflows, treasury reporting formats, and analytical indicator models.
- Automation of management accounting. This stage provides for the solution design (including business process modelling, definition of functional gaps and list of recommendations, technical and system modifications), development (including report layout, configuration of functional and technical architecture, system customisation, and integration), system testing and handover preparation.
- Commissioning, technical support, and adjustments. Launching the system in a live environment, providing ongoing technical support, system refinements, and parameter adjustments.
The scope of tasks at each stage is specified and agreed with the client during the diagnostics phase.
Upon completion of management accounting set-up, the client receives:
- Fully configured and operational system.
- Process instructions and regulations (including budgeting), methodologies (budget control, normalisation, classification of basic directories, etc.), treasury reporting templates, and other documentation.
- User training and support.
Our advantages
Expert Team
FBK consultants have extensive experience providing management accounting set-up for industry leaders. They hold degrees from top Russian and international institutions and certifications such as CFA, ASA, RICS, CIMA, and MBA.
Efficiency
A dedicated team of methodologists and developers is assembled within 5 business days of contract signing.
Expertise
Our solutions make use of proven industry frameworks and global best practices in management accounting set-up.
Key Persons
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