Profit-Web® SQL > Management accounting

Profit-Web. “Management accounting” – cots accounting system. Competition will keep on increasing after entering European Union the margin of the profit will decline and in order for a company to gain competitive advantage is necessary to know exactly the profitability of every structural department and exact product or service. Financial accounting systems do not have information about dividing criteria therefore these systems can not dispense all company’s costs into exact structural units, services or products. For this reason companies need specialized management accounting system, which would answer to management concerning questions regarding company’s activities. This business management system is produced for the top level managers, however depending on the company’s managing structure, the system might be useful for middle or even lower level managers and moreover the system can provide very useful information for the company’s shareholders when making decisions or evaluating activities of managers. Various budgets: (planning of income and expenses) optimistic, realistic, pessimistic and others for the company, group of companies, structural units, employee, plan (possibility to transfer into a new period), fact (data comes either from finance or management accounting), difference, various periods (for a month, quarter, half-year, year or other);

Functions:

• Hierarchical structure of the company (branches, departments and so on  till any depth needed);
• Catalogue of company’s activities (assigning to structural units);
• Catalogue of products and services (assigning to structural units);
• Separate management plan of accounts;
• Data import from various financial management systems;
• Type of structural unit (functional, manufacturing of a product, selling a product, management of a product);
• Forecast and modeling company’s activities (forecasts and models are saved separately for every user or collectively for the company), therefore afterwards there is a possibility to compare to the fact;
• Description of algorithm for cost dispense among structural units and product (according various criteria – sum of turnover, number of employees, size of the office, number of phone calls, number of phones or any other);
• Possibility to directly assign sum to structural unit or product;
• To determine priority for cost dispense between structural units;
• Cyclical costs dispense (limitation of number of cycles or precisions)
• Description of algorithm for costs data migration from finance accounting system into management accounting system;