Getting To Know Your Company

Jan 20, 2014

The other day we had a meeting over lunch where everyone from William Vaughan Company got together to briefly talk about the various specialty services we offer. We recently acquired another accounting firm and as a result we have several new employees. We of course have the typical accounting services such as tax, accounting and auditing, but we also pride ourselves in providing additional specialty services. We recognize the importance of communicating these services on a yearly basis to remind our staff of additional areas of assistance they can offer their clients. Our costing niche was part, but we also talked about: business valuations, cost segregations, operations reviews, financial modeling, financial planning, fraud, I-C Discs, etc.

I recognize most of you reading this probably do not have quite as many specialty areas as we do, but you still have several departments that do different things. Most of your departments do something that effects another department. The sales department closes a deal, the product has to be produced, the sale has to be invoiced and collected, parts need to be ordered and paid for, employees have to be paid, etc.

When we do an operations review we often look at how these all fit together. We talk to everyone involved to find out what exactly they are doing and oversee the entire process. When we do this, we often learn that one department does not know what the other departments are doing, and does not recognize how what they do or do not do effects another department.

Talk to the other departments in your company and see if there is something you could do that would make their job easier. Sometimes making a small change on your end can positively impact another area of your company. Or, if there is something someone else could do that would make your job easier, then tell them! Never assume that everyone is aware of what everyone else is doing!

Categories: Cost Accounting