Assessment of Financials

All organisations have multiple financial activities that contribute to their operation. Whilst these financial activities are not always related to each other, they need to be assessed regularly to give stakeholders an informed snapshot of the current and projected financial situation of their organisations.

Assessment of financials can be specific or comprehensive depending on the requirements of the organisation. Regardless of the scope, however, this is a critical task that must not be overlooked. The following points sum up the objectives that good financial assessment can accomplish:

• Provides key decision makers about the financial status, performance, and changes of the organisation, enabling them to make informed plans and decisions.
• Provides information to investors and promoters, which should help them make sensible investment decisions.
• Help creditors understand the economic resources of organisations, allowing them to decide whether or not to provide capital or increase funding or repayment.
• Give different stakeholders the details they need to understand the performance management of an organisation as well as its ability to manage asset and liabilities and comply with regulatory requirements.

Gleaning invaluable information through effective financial assessment solutions

Now that you have pondered on the merits of financial assessment, Millwood Accounting is here to provide practical support and advice on the needs of your organisation in tackling this task.

We bring together our technical knowledge and practical commercial experience in delivering assessment solutions that will provide invaluable information to your organisation. Depending on your requirements, we can produce simple financial assessment or a comprehensive report that also covers other aspects of your organisation’s operations

Below are some common situations where our service can help:

• Uncovering stakeholders’ financial concerns and developing and implementing a plan to address them.
• Management of issues that cause unnecessary financial pressure to the organisation’s cash flow
• Determining funding sources
• Development of contingency plan in relation to capital source
• Forwarding additional funding requests to creditors
• Regular assessment and continuous monitoring and support