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Beyond legal obligations and cash flow reports

Industry

General company

Company founded

1999

Challenges

The traditional problem is:

Accounting has been conducted so far because it is a legal obligation. Internal and often external reports have been made more on the basis of Cash flow, from bank statements. Accounting does not contain the correct structure of centers or other reporting/accounting categories, and thus its full potential is not being utilized.

The problem arises with the entry or even before the entry of an investor: Before an investor enters, due diligence takes place, and the dichotomy between the reporting used and the accounting reality can become an issue. Therefore, from a long-term perspective, it is good to merge these two categories and do reporting over accounting data.

If an investor enters the company despite the accounting not being properly managed, as the size of the company grows, they will start demanding reporting with a certain structure.

At the latest at this stage, it is necessary to thoroughly examine the accounting. Accounting then needs to be used in a way that the recorded data is structured for clear reporting directly based on this accounting data. It is useful to divide the company into individual accounting centers, each with a designated responsible person.

Another task is the analysis of cost structure and their allocation, primarily into gross and overhead costs. Gross costs then affect gross margin, which is one of the absolutely key indicators, both for managing the company itself and for negotiating with investors. The incorporation of each of these changes can be gradually tracked in the Symfio application, including their impacts on basic economic or sales metrics. This allows for further changes in the accounting structure to ensure that the information obtained from reporting is as good as possible.

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