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Manufacturing and engineering businesses can be more complex from an accounting perspective than many other businesses as they involve creating new products from scratch. This results in complexities around inventory control and methods of accounting for both direct costs and overheads. Businesses in these sectors require reliable and timely KPI information to make critical business decisions.
The AAB team of experts can assist with advice in relation to accounting systems and processes for these sectors. From an audit perspective our experience in the sector enables us to challenge the numbers and, where appropriate, make recommendations on accounting or system improvements.
A local manufacturing company which has had over 40 years of success, predominantly in the Oil & Gas sector. Management did not feel that they were receiving a quality service for the fees that they were paying. Challenges identified included auditing the stock and work in progress systems and how these linked into an out of date accounts package.
Company with an overseas parent, which provides sales, rental and maintenances services for heavy lifting equipment approached us with a requirement for a statutory audit and ongoing accounting support following the departure of a key staff member. There was also a need to address historical taxation issues.
