Cost accounting and controlling
Cost accounting and controlling procedures and mechanisms form the basis of corporate finance. Effective business management requires an overview of the relative finances. The proper establishment of cost accounting and controlling mechanisms should be considered in order to attain this important and necessary overview. We support our clients both in the establishment of such mechanisms as well as in their ongoing monitoring, adjustment and assessment.
On this page, you can find:
Establishment of cost accounting and controlling mechanisms
If your company has grown or if you have merged and acquired another company, or if you simply want to know which products, branch offices or sectors earn profits or take losses, establishment of cost accounting mechanisms or installation of controlling mechanisms, where appropriate, is highly recommended. For this purpose, it is necessary to separately consider different business units or products (cost centers and cost objects) and to assign all turnover and costs to these.
Upon request, we support you in the implementation of such mechanisms either in your accounting software, in our DATEV program or as a separate Excel report. The partial results of individual segments can be analyzed by the means of ongoing costs and final costs that can be carried out. Now you can easily identify in which segments you make money, and in which you loose money and should be closed, if necessary.
If you are obliged by law to set up a controlling mechanisms, we will gladly help you with that. This includes the set-up of an early risk detection system according to Article 91 Sec 2 of the companies act (AktG).
If you have already developed a cost accounting system or controling mechanism, we will gladly check the plausibility and make recommendations for changes, if necessary.
Cost accounting and control reports for German companies
We will gladly monitor the cost accounting and control mechanisms developed by you or by us for German companies and adjust these when required. If we use the cost accounting module for your accounting, we can provide you with additional reports such as a cost allocation sheet.
Alternatively, we can provide our clients read and copy access to all reports using the DATEV Unternehmen-online program. The following reports can be provided online:
- Account forms incl. attached documents
- Monthly business assessments
- Trial balance sheet
- List of outstanding receivables
- List of outstanding payables
- Advance VAT returns
- List of all journal entries
- Payroll reports
- Pay slips.
Many reports can be exported into Excel so that you can process the data further. In this way, you are always up-to-date. You only need internet access and your access data – and you can immediately get an overview on your finances managed by us from anywhere in the world, with password protection.
Cost accounting and controlling reports for German entities of foreign companies
You are leading an international company – and would like to have the results of your German subsidiary presented in a specific format? You would like to have direct access to the financial data compiled by us? That’s not a problem for us. We compile all documents and transactions in our accounting software and prepare an individual reporting package. Generally, this is an Excel file, which the client can directly import into their own software. Upon request, we provide monthly calculations of deferred income / expenses, adjustments of provisions and accruals and a tax calculation, so that the reporting data is at the level of annual financial statements.