Keeping track of the important details.
Most of the failures seen in SMEs and start-ups are due to poor financial management practices whereas successful SMEs rely heavily on the relationship with their bank and external accountant. Larger enterprises can afford to employ a fulltime accountant who prepares various management reports to assist the directors in managing the company. However, the lack of these skills in smaller enterprises forces management to be mostly cash and stock managers rather than enterprise managers.
Many small businesses are likely to have limited access to skills and information about markets and technology - this is where BDO comes in. Through our global network and the use of technology for accounting purposes, we provide support in the critical area of finance to ensure that you have an accurate and up to date picture of your company’s financial situation.
Our services include:
- Monthly management accounts
- Annual financial statements
- Processing of accounting records
- Cash flow forecasts