AFP Consulting Pty Ltd
AFP Consulting provides consulting services in management and systems accounting that support your business objectives to optimise financial management. Three cornerstones underpin our consulting work;
- effective management reporting
- efficient policy and processes
- frameworks for business intelligence, dashboards and costing and data structures that support information management
Mining Company Case Study
The client a company listed on the ASX and undertaking mineral resource exploration was using QuickBooks for its accounting. It planned to commence mining operations at one of its exploration sites and needed an accounting system that would cater for the expanded operations. The CFO made a priority of the following points;
- a chart of accounts that catered for the different aspects of the organisation
- cost centre reporting for better control over different operations and management reports in the format that represented their organisational cost structures
- reporting that identified the different types of costs.
- budgeting and forecasting data on spreadsheets were reported against actuals from the accounting system and extensive use of spreadsheets was made in compiling reports. The CFO especially noted that the ever increasing amount of time was consumed by producing these reports that compared budget and forecast data in spreadsheets with the actuals in the accounting system.
After an investigation into the purchase of a new accounting system the CFO was not convinced that a replacement of the accounting system on its own would meet the efficiency gains and added value sought from such a move. However, remaining with the present accounting system would not solve the existing problem of having to run numerous reports from which data was extracted to obtain the relevant information to produce a final report. The proposed new system did not have a very flexible report writer that would produce reports in the variety of formats wanted by the CFO.
The Solution ....click here to read more on how AFP Consulting provided the solution to the efficiency gains and added value sought by this company