The backbone of any business is undoubtedly a solid and transparent accounting function. This is why we believe that management decisions can truly be based on figures only when such is tailored to the business’ needs, accurate and timely delivered. Our dedicated team of professionals, our extensive knowledge of developed and emerging industries, and our dedication in delivering solutions by working closely with our customers are what makes us so strong in this service sector.
Depending on the needs of your business, we will guide you in developing or improving your accounting function, ranging from bookkeeping and historical reporting to financial controller services and forecast reporting.
Management accounts provide key financial information relating to the business operations and hence enabling you to make short term decisions which can benefit the business in the long term. A set of accounting data, including balance sheet, cash flow, and income statement, can be prepared and presented monthly, quarterly or yearly to give useful, timely information for management.
In today’s business environment trends change rapidly. It is important to take immediate action in order to survive or grow, so regular management accounts are valuable for every business.
The preparation of management accounts on a regular basis offer various advantages to management in order to make key decisions in a timely manner as well as pinpoint deficiencies in operations as fast as possible, such as:
Tracking of loss-making departments/projects;
Reducing expenses where possible;
Cash flow issues; and
Tracking of budgets vs actual figures.
Through the preparation of management accounts, the business will also be able to analyse non-financial indicators resulting in such figures being presented. Together with your management team, we will be able to assist you in the operational aspect of the business and measure business performance.
Our team of professionals will work hand in hand with you to design management accounts appropriate to your business model and will report to management accordingly.
Budgeting and forecasting are important to achieve business success because you set targets for both your income and expenditure, and then you can evaluate the actual results to those targets as the year progresses. This will also help the business cope with the uncertainty of the future. Forecasting starts with assumptions based on experience, past trends, seasonality, knowledge of the industry as well as judgement.
The most financially stable businesses practise this as it will help to:
Identify risks at an early stage;
Plan and predict cash flow movements;
Forecast your revenues and track performance throughout the year;
Control costs during the year and compare with available budgets; and
Make more confident strategic decisions.
This service is pivotal to your business going into the next financial year, and we ensure that such service is provided according to your company’s requirements within the industry it operates in.
The financial controller is a catalyst in steering and directing the company towards the desired goal of the entity. S/he holds a fiduciary role, working parallel to other departments within the company in developing and assisting financial and non-financial targets.
Nexia BT’s financial controller service provides an important management tool for decision-making. We provide you and the management team with the right insight to deliver the planned result both in the short and long-term perspectives through profit maximization, market segmentation, and goodwill retention.
Our outsourcing service is made-to-measure, based on your requirements, the industry in which you operate, and the expertise needed. We guarantee a hands-on approach in cash flow planning, finance procuring, tax adherence, payroll management, mergers, group structuring, project-based consultancy, interim advice, and the provision of management accounts and projections.
This service will be your indispensable tool, which will guide your organization through the all-important early stages of business growth.
At Nexia BT, we recognize that our individual private clients look for peace of mind when moving to Malta to establish their residence.
At Nexia BT, we aim to implement the most cost-effective IT strategy to help realise the goals.
We offer a variety of personalised services catered to each organisation on how to best comply with the GDPR.