Management Accounting
Here at Chequer Accounting, we believe in taking a hands-on approach to adding value to your business with our management accounting services.
When most people think management accounting, they think big business but management accounting can provide valuable insights for small businesses too. For most small businesses having a full time management accountant on staff is impractical and that’s where we are here to help. To get you started, we have answered some of the common questions below. Once you are ready to take your business to the next level, get in touch with our professional team to see how we can help your business.
Your Trusted Adviser
Our focus is on delivering excellent accounting services and building long-term relationships with our clients so you have security knowing you are working with an adviser you can trust and rely on.
Number Crunchers
We are happy to admit we love the boring number crunching stuff. Whether it’s building a budget, reviewing pricing or calculating how much overheads should go where, we’ve got you covered!
Improve your Business
Like the old saying goes, Failing to plan is planning to fail. We can offer you guidance to set your business goals and establish effective control systems to achieve and exceed these goals.
What is Management Accounting?
Management Accounting is much more than just preparing Financial Statements and Tax Returns. To put simply, it is a specialty division of Accounting where an Accountant looks into particular aspects of a business to “crunch the numbers”, design internal controls or implement software solutions to improve efficiency.
What is "crunching the numbers"?
“Crunching the numbers” is just that, it is looking at the numbers involved in a situation and doing the math. Sounds simple right? But Math isn’t everyone’s cup of tea.
How can a Management Accountant help my business?
Management Accountants can help with things like creating budgets, looking at the profitability of a business segment, helping price your products and analysing how your business is tracking compared with other businesses in your industry.
We can help design and implement internal controls to safeguard your business – these are the processes to be followed when it comes to all things finance related.
And finally, although we aren’t IT Experts, we can help you find the best accounting software solutions for your business. This includes assisting with the integration and/or set up of employee management software, point of sale software, inventory management software and more, into your existing accounting software.
Budgets, why do I need one?
Budgets are a great business management tool for business owners to visualise where their business is heading financially.
We can help create a detailed budget for your business by looking at the historic data and sitting down with you to get a proper understanding of your business going forward. In doing so, we can identify what expenses are unnecessary, assess if your sales match your cost of goods sold and much more.
Finally, by comparing your actual results to the budget, we can provide valuable timely feedback when things go astray.
What are the costs and terms?
We charge an hourly rate of $220 including GST, billed in 15 minutes blocks. How long the project will take depends on the project requirements.
Fixed fee projects are charged 50% upfront and the remaining 50% on completion. Hourly rate projects are invoiced at the end of each month based on time taken with 14 day payment terms.
Do you have to be my Tax Agent?
No! Management Accounting is separate for Tax Accounting and we are happy to assist all businesses, regardless of whether we are your Tax Agents or not!
Do you assist Individuals or offer Financial Advice/Planning?
No, we do not offer Financial Advice or Planning and we do not offer our Management Accounting services to Individuals (other than Sole Traders and Partnerships in a Business capacity).