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Financial Management

An optimal use and management of finances is an essential precondition for the achievement of good operating results. Financial management encompasses a qualified planning of finances, monitoring and control of implementation of plans based on the established indicators, risk management, organisation of the financial function and other issues associated with the management of one of the key resources of the organisation - money.

Our aim is to assist our clients in properly organising an effective functioning of the financial activities and optimising related processes, improving the management of the financial function, the quality of internal controls and risk management tools in the field of finances including the systems of financial and management reporting.

Challenges faced by organisations

Transition to a new accounting standards, ensuring compliance with external requirements affecting the financial function, for example, Basel II, MiFID, Sarbanes-                  Oxley 

Assessment and optimisation of risk management and internal controls related to the financial function

Shortening of the period of preparation of the financial and management accounts, reduction of the number of corrections in the prepared accounts

Ensuring effective management of the functions transferred to the third parties

Selection of optimal IT solutions for the management of finances and effective monitoring of their implementation

Need to assess effectiveness in organising financial management, accounting, management processes and related costs

Complicated solutions dealing with the performance of the accounting function: centralisation, outsourcing

Solutions offered by PwC

  • Assistance in the development and implementation of a financial planning and management system focused on strategic objectives and key performance indicators
  • Assessment of efficiency of the financial function and process optimisation.
  • Optimisation of the period of preparation of financial and management information in terms of time and costs
  • Assistance in preparing the specification of the IT solution for financial accounting and management, choosing and implementing a selected solution
  • Treasury function organization and optimising management of the working capital
  • Development and implementation of costs distribution schemes, for example, Activity Based Costing (ABC), and related advisory services
  • Assessment of investment impact and the return on investment (ROI)

Contact us

Birutė Purvaneckaitė

Birutė Purvaneckaitė

Director, Advisory services, PwC Lithuania

Tel: +370 686 25085

Ieva Markucevičiūtė

Ieva Markucevičiūtė

Manager, Advisory services, PwC Lithuania

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