Services Offered
Nix Accounting Solutions provides accounting and financial solutions to companies of all sizes.
This involves the assessing of the current systems procedures and staff within the finance function, and the quality of the information available. We would complete this by providing a report with our findings along with our recommendations and the various options that we feel would be available to you.
Having identified the strengths and weaknesses of the finance function it is an option for clients to further engage us to improve the current systems and to train staff members to achieve the optimum performance from the resources already at the company's disposal with out incurring the costs of new systems. From our experience in the majority of companies the systems in place are suficient for the needs of the company but are totally under utilised.
This evolves taking the information available and analysing this to identify the financial strengths and weaknesses of the operations, including identifying loss making or low profit sections of the company, and preparing a number of projections for the company based on different scenarios. With the correct information available it allows management to make the correct decisions with confidence to move the company forward.
In our experience this is the key factor in driving the business forward, based on all the information collected in conjunction with management we spend as much time as necessary to tease out all the various forecasts based on different scenarios and finish up with a comprehensive set of financial projections These projections are then used to compare to operating results going forward. This give the company a very tangible plan to work to for a financial period and encourages people to concentrate on improving high profit sections, while closely monitoring high cost drivers.
The preparation of comprehensive business plans is becoming a very important tool for organisations, along as setting out the financials for a company it also encompasses other factors of the organisation. This document is a usual requirement for dealing with 3rd parties. e.g. .Financial institutions, Government bodies.
This would be the most popular service provided, at set intervals during the year monthly bi monthly or quarterly. We would take the information processed to various different levels of completion and finish out the accounting function and prepare a full set of meaningful management accounts along with a comprehensive analysis and variance to forecast. This enable management to have a full review of the performance of the company at these junctures and in the interim concentrate on the operations of the business. A lot of time is wasted in business with owners/managers trying to get piecemeal information to base decisions on.
This would involve us along with providing the management accounts as above, also providing services for the more basic book keeping functions, this service is very specific to each company, and can greatly benefit an organisation from a cost saving and information availability point of view.
With in the production industry, the importance of breaking the process down to man hours, production cost, overhead absorption etc is imperative. For many of our clients we have worked closely to achieve an extensive costing system to allow them to control the production process to maximise profitability, and allow them to quote for work in a confident competitive manner.
While working in many different industry sectors we have worked closely with a large number of government agencies from initial consultations to application and drawdown of many different types of grants and subsidies.
The access to finance is a key ingredient to any business for the ongoing and expanding of its operations, for this the submission to financial institutions of clear sound financial information and realistic forecasting is imperative, and is increasingly been made a condition of the facility.
We have been involved in a number of such transactions from the initial contact, preparing heads of Agreement negotiating contracts, due diligence, final contracts including disclosures warranties etc.
We would evaluate a range of different investment/business opportunities for our clients on an ongoing basis.