Businesses typically operate in more than one location, and/or they have more than one division, both of which call for complex and tedious processes to finalise monthly, quarterly, half-yearly and annual reporting.

We help our clients to move beyond accounting as the basis, enabling them to budget in the way their teams and businesses think.

Perhaps you have experienced this too: No sooner is the budget drawn up than the new financial year kicks off and, with it, the realisation that certain assumptions used in the business plan were off the mark because of internal changes, market conditions, or global influences, such as exchange rate fluctuations.

Applying effective costing to products requires the inclusion of multiple factors – a process that has as many ladders leading to success as it has snakes that devour profit.

Businesses make wide use of spreadsheets and while they do provide flexibility, the reality is that every cell is an island that brings with it a fair share of associated risk.

Annual reports are part of external reporting and is a compulsory statutory reporting function undertaken by an organisation’s finance department. This is typically a manual and laborious process, carried out by highly skilled and highly paid resources.

Over the years we’ve found that companies experience growth pains with their external and internal reporting processes, mainly because of increasing volumes of data and, of course, increased demands from both regulators and stakeholders.

We understand the late nights and time spent away from friends and loved ones over busy reporting periods, such as year-ends and interims.

Often termed “bar codes for reporting”, XBRL allows for comprehensive definitions and unique, accurate data tags that enable the preparation, validation, publication, exchange, consumption and analysis of business information. Understanding XBRL is fast becoming crucial as the Companies and Intellectual Property Commission (CIPC) has launched a programme to implement it in South Africa by 1 July 2018.