What is it?
Financial management should be seen as separate from financial reporting. Financial management is about good management, not simply stewardship of the finances of an organisation. It is about achieving the organisation’s strategic objectives through managing performance and incorporates corporate governance, effective use of resources and continual improvement. Financial management, therefore, is the responsibility of all directors (including non-executive directors) and managers in an organisation and not just the job of the Finance Director and his / her team. This applies equally to public and private sector organisations.
What we do
Within PKF’s financial management unit we are able to provide innovative yet practical advice on the application of the latest financial management techniques covering such areas as:
- Strategic management including: visions, strategy development and corporate planning; reform of resource allocation and business planning processes; advising on appropriate corporate models; business and product viability; and advising on the implications of the business environment.
- Performance management including: effective management information and Board reporting systems; establishing performance measures; establishing governance arrangements; driving productivity improvements; process redesign; development of Balanced Scorecards and other measurement frameworks; and improving the finance function (including health-checks).
- Costing and pricing advice: identifying and assisting on pricing decisions (including rates of return); undertaking internal and external benchmarking; improving financial management systems; improving budgeting, forecasting and monitoring systems; costing (including Activity Based Costing); and business and forecast modelling.
- Decision management including: undertaking value for money reviews; feasibility and scoping studies; options and investment appraisals; business case development; and decision support.
The benefits to you
Effective financial management is key to driving better organisational performance whether through ensuring the organisation is doing the right things, ensuring it has the right resources or through ensuring that those resources are delivering maximum benefit. Financial management ensures that the information provided, both financial and non-financial, enables organisations to make the right decisions. PKF in Eastern Africa, with a wide range of qualified accountants and experienced facilitators in the area of financial management, are well placed to provide you with the appropriate advice and support to maximise operational effectiveness.
Why PKF in Eastern Africa?
In delivering our strategic advice, our aim is that our clients will have the benefit of an independent assessment of their business, its strengths and weaknesses, its options for change and a recommended way forward which fully takes into account the challenges, constraints and opportunities the business faces.