Financial and cost controlling
Financial and cost controlling deal with questions of corporate finance and internal accounting; Tasks of planning, coordination, and control of these areas are just as important as the acquisition. Evaluation of information and the provision of models and decision-making aids for the respective management.
RS Controlling System: The RS Controlling System provides planning, actual evaluation and forecasting in an Excel system . Monthly and multi-year planning. It’s easy to analyze actual numbers using plan / actual comparisons, key figures, and cash flow statements.
The financial controlling controls and controls in principle all processes concerning the financing. These include, for example, incoming and outgoing payments, securing liquidity and monitoring general capital structure and capital formation, financial planning for future investments (short, medium and long-term), financial analysis, etc. In doing so, it is important to record the current situation, to uncover potential weaknesses or potentials, to investigate financing options and, accordingly, to pass on recommendations for action to the management and to support this in the implementation of possible decisions.
The primary goals are:
- Knowledge of the exact capital structure
- Secure solvency
- create a favorable balance sheet structure
- make the best possible financing decisions
It goes without saying that one’s own company because all business sectors are involved in financial activities, must be treated in the same way as the general capital market because the requirements of both must be taken into account when developing strategies. Of course, especially with regard to solvency, the cost component is decisive, which explains the connection between financial and cost control.
As part of cost and activity accounting. All incurred costs of a period are sorted by cost element. Allocated to cost centers and finally allocated to the individual cost units. For example, to determine the cost price of a product. Since management needs different data to influence cost strategies and pricing policy. Cost controlling at this point performs a service function by sorting, processing, and providing action alternatives to management using decision models. In addition, it monitors and coordinates all cost accounting processes, both operationally and strategically.
The desired goals can be summarized as follows:
- Improvement of the cost position (cost leadership)
- Strengthening competitiveness
- Cost structure optimization eg by reducing the fixed costs
- Improvement of cost transparency
- Identification of cost drivers and the like