Part 3: Chart of Accounts and Custom Periodic Reporting

by | Feb 15, 2021

By: Christi Johnson, Strategic Management Consulting Services

The following is part three of a multi-part series on The KHA Way, KHA Management Consulting’s Integrated Service Offering. This blog series includes the benefits of using KHA Management Consulting Services and the components included.

The electronic age has made information readily available on every topic imaginable. At the same time, this inundation of information can be quite overwhelming to discern the integrity or authenticity of the information provided. Our blog series is intended to give you a clear understanding of our consulting offering and demonstrate how we can serve you now and through the upcoming years.

A recurrent theme in management resources is the fact that many business managers know their business but do not know the information that is vital to keep the business strong and prepared for future changes while weathering normal business cycles. The Chart of Accounts and Custom Periodic Reporting sections of “The KHA Way” Accounting Visibility offering address the issue of providing clear financial data.

As a business manager and/or owner, the success of your business depends on your decisions and guidance. These decisions, in turn, should be based on accurate and timely financial information. If you do not have confidence in your financial information or understand how to use it, the decisions and guidance you provide, at best, are a good guess that hopefully will not negatively impact your business. Our KHA Management Consulting team is prepared to provide an expert assessment of your current financial data. We more than likely will recommend changes to your Chart of Accounts in order to clarify your financial information and to provide customized reports that will help you assess your business accurately.

During our Accounting Visibility engagement, we will work with you to review your organization specific information as well as industry specific benchmarking to ensure that key information is reflected in your management reports. Your current financial statements will be reviewed to ensure that it is clearly presented to showcase the integral decision-making data and any chart of account changes will be recommended to ensure this result. We will listen to your concerns regarding your business goals and work with you to determine the report(s) that will provide additional business information clearly.

At KHA Management Consultants, we work with mid-market industry leaders to identify what makes the organization, its stakeholders, and its’ employees tick. We facilitate the Accounting Visibility process with your organization’s key constituents to ensure buy-in, ownership, and a new way of thinking about the organization and its stakeholders amongst all levels. From a resource perspective, we primarily use our unmatched experience but also tap into the top-level resources such as those made available by Harvard Business Review, relevant strategic management authors, and MentorPlus. Some of those materials, frameworks, and lessons have been used in authoring this series.

KHA Management Consultants, the consulting department of KHA Accountants, PLLC, based in Flower Mound, Texas, is always looking for opportunities to work with key clients ready to take their organization to the next level. If you have a desire to improve, take the first step toward success with the strategic management experts, and contact us at 972-221-2500.

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