FINANCE FUNCTION IS CENTRAL TO THE SUCCESSFUL OPERATION OF ANY ORGANIZATION
We recognize that changes occurring in organizations are creating the pressure to reduce the cost of basic business transactions while enhancing the quality, reliability, and responsiveness of the systems that provide information for use both within and outside the company. MACI financial professionals are involved in Cost Management process and provide the basic system tools, expertise models, and information used to shape current and future business practices. We acknowledge that the finance function is not immune from pressures which enhance the value-creating ability of the firm. Responding to the challenge of doing more with less and to become a business partner, our finance professionals are attacking traditional transaction-processing systems and processes, finding innovative ways to use technology and process improvement to eliminate waste, and freeing up vital finance resources to support strategic and tactical initiatives.
To provide more timely and relevant information to meet business needs, MACI finance professionals are turning to re-engineering, Lean Six Sigma (LSS) and finance-process redesign as the primary means to increase value-added finance by utilizing the organizations Enterprise Resource Planning (ERP) and Business Intelligence to perform much needed Predictive Analytics.
Government Contractor 8(a)
Obtaining a government contract is an excellent business achievement. However, inadequate pricing and poor contract administration could be a financial disaster for the business.
MACI works with clients to competitively price the proposals. We prepare annual and multiyear financial reports and supporting documents for the SBA, 8(a) certification. We set up accounting systems to allocate costs according to Federal Acquisition Regulation (FAR) and Compliance with Defense Contract Audit Agency (DCAA):
• QuickBooks Enterprise implementation
• Clients’ Enterprise Resource Planning (ERP) and Business Intelligence
• Chart of accounts and Labor Tracking in compliance with DCAA
• Work Breakdown Structure (WBS) and Job costing
• Overhead and cost proposal preparation
• Contract & project profitability reporting
• Incurred Cost Electronic submission (ICE)
Non-Profit Organization
MACI Financial services free up non-profit organizations to put more resources towards growing membership, providing member benefits, programs services, and other mission-driven activities. Our financial accounting services for non-profits help to achieve organizations’ goals by streamlining bookkeeping, accounting, and 990 preparation.
Even though most nonprofit organizations are exempt from having to prepare tax filings for the federal government, it is still critical to file an accurate and complete Form 990.
MANAGERIAL ACCOUNTING VS FINANCIAL ACCOUNTING
MANAGERIAL ACCOUNTING
The Purpose: Decision makingThe Primary Users:Internal managers
The Focus/Emphasis: Future-oriented
The Rules: Do not have to follow GAAP – cost vs. benefit
The Time Span: Use current to very long time horizons.
The Behavioral Issues: Designed to influence employee behavior.
FINANCIAL ACCOUNTING
The Purpose: Communicate financial position to outsiders.The Primary Users:External users
The Focus/Emphasis: Past-oriented
The Rules: GAAP Compliant; CPA audited
The Time Span: Historical monthly and quarterly reports.
The Behavioral Issues: Indirect effects on employee behavior.