DEVELOPMENTS
The company is developing spreadsheet templates for company performance reports to management. The systems developed are referred to as Management Accounting and Forecasting systems (MAF).
MAF is a compiled spreadsheet template to
(1) Report organisation performance data, both financial and operational, against pre-set comparative data; and
(2) Forecast the performance data for the remainder of the current financial year, and for next financial year.
The spreadsheet template approach was used to facilitate a variety of User input, and assist User understanding of how the system works.
MAF is specifically intended for the Small & Medium Size Enterprise (SME), in a variety of different countries. Larger organisations and auditors may find it helpful.
MAF helps automate the preparation of target or budget data. It compares performance actuals in the current year with target, budget, or previous year data. It will forecast automatically for the remainder of the current financial year, and for the next financial year. The User may vary the input and system Assumptions for sensitivity analysis, to guestimate the effect on the organisation of changes (in product pricing, interest costs, income tax rate and revenue tax rates, for example). The basis for the system was patented as an invention in USA, UK and Australia.