Small and medium enterprises (SMEs) are known for their growth spurts, flexibility, unique ability to adapt and adjust to any niche opportunities. As such they have been labelled as ‘gazelles’ according to Nandan (2010) in his research note from Monash University. While this is true for some a vast majority struggle with this and a major contributor is the lack of training and experience in managing a SME and lack of management accounting information. Further Nandan (2010) suggests that SMEs just as the corporate enterprises should utilise and appreciate the role of sophisticated management accounting techniques and systems to enhance the management of scarce resources and increase customers and owner-managers value.
CubedBiz is headed by a Management Accountant whom is offering this skill set to service the small and medium business community. We have adopted more advanced techniques intertwined with strategy such as
- value chain analysis,
- activity-based costing,
- balanced scorecards,
- target costing,
- total quality management (TQM),
- lean accounting and more.
These techniques translate strategies into key performance measures allowing financial and non-financial indicators to show what is great and needs improving.
Nandan, R. (2010). Management accounting needs of SMEs and the role of professional accountants: A renewed research agenda. Journal of applied management accounting research, 8(1), 65-78.