A successful business needs a successful planning that combines comprehensive budgeting, better financial planning, and realistic forecasts. Such business planning goes on to provide financial stability, enhance visibility of risks, help analyze bottlenecks, enable control over expenses, and facilitates better fundraising.
We, the experts at BCL, help you in creative construction of the business plan with the help of software suites, deep dive in research combined with human curation that delivers a great financial health to your organization.
Financial Reporting deals with the process of documenting, analysing, and communicating the financial affairs of your business over specific periods, typically on a monthly, quarterly, or yearly basis. A perfectly maintained monthly financial report provides you with visibility to the overall performance, helps you strategize your operations, and increases your credibility and creditworthiness. Financial reporting discloses the financial information to stakeholders that include investors, the public, lenders, and government agencies.
Types of Financial Reports
Objectives of maintaining Financial Reports
How BCL Globiz can help?
Financial Management is the key factor for a business to progress in future on a long term. While growing businesses owners often reach a stage where they require a financial advisor but cannot afford a full-time Chief Financial Officer on their rolls. For that, your organization need CFOs who will assist in identifying your greatest risks and prospects, providing a clear path to expansion and maintain consistent financial health. We provide Virtual CFO services to meet these challenges and overcome them by giving financial and professional aid, analysis and support to the management.
BCL Globiz provides a flexible engagement model which based on the size and growth stage of your business, gives you an option to increase/decrease the level of our involvement, empowering you to have the best CFO talent and an expert team assisting you to meet your business requirements.
Virtual CFO at BCL Globiz will assist you in the following ways
At BCL Globiz, our CFO services in Dubai, UAE, enables finance department executives to maximize financial and overall business performance through best practice-based CFO advisory services. Our skilled and efficient professionals help you in better financial management and business strategies. We leverage advanced technology for the function to operate “better, faster, and cheaper.
Financial planning reduces risks and uncertainties of future. It contains strategies to achieve your important financial goals while maintaining a stable financial health.
Types of financial planning:
A financial forecast is typically a projection of future expenses and revenues. The forecast is prepared based on historical or internal data and includes prediction of external factors of the market.
Incorporation of a realistic projection helps attract investors and also estimates the future financial income to be applied in capital budgeting. Preparation of financial forecasting involves a detailed analysis of past and current data while involving in various dynamics of the market and business’s scenario to project future financial statements of an organization.
The purpose of creating a financial forecasting report needs to be well-defined before carrying out the analysis whether it aims at raising capital, reaching out potential investors / buyers, evaluating acquisition, or budgeting a project or a company.
Budgeting includes the estimation of revenue and planning of expenses over a specified future period of time typically one year. Budgeting helps you plan all your operations beforehand so you have all the cash flow and don’t get into debt.
Different types of budgeting:
● Incremental Budgeting – Adjusts existing budget by increments reflecting overall growth or decline of the organization
● Activity-based Budgeting – Works on goal-specific short-term plans
● Value-proposition Budgeting – Calculates the value of the business and maximizes the budget in the areas of stronger results
● Zero-based Budgeting – Eliminates extra expenditure providing complete control through line-by-line justifications of plans and purchases
Advantages of budgeting
We have qualified costing experts on our team who accurately budget your expenses, sales and profitability and assist in maximizing profit through suggesting changes that are needed. Our experts re-evaluate the budget periodically according to the changes in the business conditions and assist flexibility.
BCL publishes the above mentioned, financial reports each month, to push you onwards and upwards. Our experts, meticulously review all your financial entries and books to draft the reports with advanced analytics and customization. With reports giving good insights on forecasting and planning, we can help you take better business decisions.
Something isn’t Clear?
Feel free to contact us, and we will be more than happy to answer all of your questions.