Improving the company's business processes
What is a company (enterprise, organization, institution): a set of structural units (departments, divisions, bureaus, workshops, sites, services) or a set of business processes? Of course, both. However, looking at…

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Career in audit and consulting
For quite a long time, analysts have seen a steady growth in demand for specialists in the field of consulting and auditing. Moreover, personnel shortages are experienced by both large…

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REORGANIZATION: A WIZARD OR KAMIKADZE IS REQUIRED
The company N. was formed. Almost perfect conditions at the start. The company has a separate line in the country's budget for the purchase of resources from producers. Delivery by…

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What is financial consulting

Biblical wisdom teaches: “There is no prophet in his own country.” Attached to the business, this phrase takes on a special meaning. Company employees are almost always critical of changes coming from within.
There are common situations when management attempts to change the existing state of affairs at an enterprise stumble upon a reinforced concrete barrier of rejection, worsen the psychological climate in the collective and destroy the corporate spirit.
Another reason why independent attempts to improve the structure of a business are failing is the elementary lack of necessary knowledge and skills of full-time employees.
In such a situation, the invitation of third-party specialists seems to be the most reasonable and expedient way to solve the problem. Experienced consultants invited from the outside take on the functions of impartial arbitrators who understand the company’s affairs in an unbiased, sober and competent manner.
The above fully applies to financial consulting as a way to analyze, adjust and stabilize the business processes of a single company.
Financial consulting is a set of measures aimed at improving the financial position of the client company, optimizing its financial and tax accounting, changing investment policies and other processes related to the circulation of funds.
Not all enterprises of medium and even large business can afford to have special departments for financial planning. In the West, financial consulting is a common practice, which even the most famous and quite successful firms resort to.
The purpose of the work of invited financial analysts is not just to find mistakes and shortcomings with the client, but also, if necessary, to completely change the monetary policy of the company, making it more efficient and economical. Possible losses and damages are reduced to a minimum, which increases the total profit and leads to economic recovery of the company.
We list the local tasks of financial consulting:
full analysis (audit) of all production areas of the enterprise;
reorganization of financial planning;
audit and optimization of office work;
development of new methods for the development and strengthening of the financial system;
work with company tax deductions;
investment consulting – control of investments and the search for new, more promising investment objects;
advice on all financial matters;
full support of the company’s credit transactions.
This is only a sample list of tasks. In fact, there are much more of them – as many as there are varieties of financial problems for commercial companies.
Professional consultants, like experienced doctors, know how to identify and diagnose customer problems and prescribe competent and effective treatment procedures.
You will learn about the techniques and methods used by advisors in the following sections.
More information on the theory and practice of consulting can be found in the review article “What is consulting”.

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