MEC

Empowerment

Assessment

The Initial Assessment

4. The Financials

After gaining a precise understanding of the company's offerings, it is the next most logical procedure to examine the Financials of the company. Under this category, MEC reviews the usual financial statements but also looks deeper into other aspects as well, to identify and analyze patterns, trends and indicators of business problems which may be unseen. Though not necessarily a comprehensive list, the following topics and key areas are generally reviewed and discussed with Managment and finance personnel:

  • Evaluation of Current Assets
  • Current and past Balance Sheets
  • Current and past Profit/Loss Statements
  • Review of deployed accounting systems
  • Management reporting systems
  • Budgets
  • Budget revision process
  • Actuals compared to Business Plan projections
  • Gain understanding of anomalies in financials
  • Developing trends
  • Unexpected expenditures
  • Unexpected cost savings
  • Financial staff's observations
  • Management ideas for change in financial processes
  • Proposed financial strategies for new investment capital
  • Budget projections

Assessment - Overview

The Initial Assessment

1. The Client Dialogue
2. The Management Dialogue
3. Technology Evaluation
4. The Financials
5. Contracts Review
6. Operations & Profitability
7. Marketing
8. Industry Relations
9. Investment Strategies
10. The Report

Optimization

NEXT: Contracts Review