Financial Management

KAA Federal is equipped with a smart and seasoned financial management services team with relevant experience in the federal government marketplace to assist our federal clients to find solutions that improve their financial operations. Our team is cognizant of the complex nature of the regulatory framework and has a proven record of successively helping our federal clients prepare and submit budgets that comply with federal, state, and local regulations.

Capabilities

Financial Analytics

We offer Financial Analytics to our federal clients by coming up with relevant analyses to specific business queries, which can then be used to forecast possible financial scenarios. We provide unmistakable value that can help shape business strategy on the basis of factual insight. We use analytics to provide detailed views that help the agencies spot key trends and take advantage of them.

Business Case Analysis

A Business Case Analysis (BCA) provides a best-value analysis that considers not only cost but other quantifiable and non-quantifiable factors supporting an investment decision. This can include but is not limited to, performance, producibility, reliability, maintainability, and supportability enhancements. Typically, it is used in the initial decision to invest in a project and guides the decision to select among alternative approaches. It is also used to validate the proposed scope, schedule, or budget changes during the course of the project.

Budget and Accounting Services

  • Full-Cycle Accounting
  • AP, AR, Payroll & Timesheet Accounting
  • Customer Invoicing
  • Reconciliations
  • Cash Flow Projections
  • Financial Reporting & Analysis
  • Budgeting & Forecasting
  • Industry Compliance & Expertise

Audit preparation and Corrective Action Planning

As part of audit preparation, we identify key people to coordinate the audit process and ensure they are familiar with all systems, responsibilities, practices, and records, as they will be the closest link to the auditor. We also make sure that staff with specific responsibilities are available during the audit.

We offer Corrective Action Planning using which a problem can be analyzed down to its root cause and contributing factors. We then devise a plan to resolve the problem and create a time schedule with respective deliverables accordingly.

Spend Analytics and Strategic sourcing

We offer Spend Analytics services to collect, process, and analyze procurement data of our federal clients who can use it to manage their suppliers, track procurement performance, and potentially reduce costs. A key decision that Spend Analytics influences is strategic sourcing, which is a process that minimizes supply risks with better source selection, and may even offer visibility into pricing and forecasting.

FAQ’s

What is financial management and what is its importance?

Financial management is strategic planning, organizing, directing, and controlling of financial undertakings. It also includes applying management principles to the financial assets of an organization, while also playing an important part in fiscal management.

What are the key elements of a corrective action plan?
  • Identify the weakness.
  • Perform root cause analysis.
  • Evaluate the impact of the weakness.
  • Develop CAP components.
  • Implement CAP monitoring and follow-up of CAP progress.
  • Testing and validation of CAP.
  • Close CAP when steps are complete.
Where is financial analytics used?

As a subset of business intelligence and enterprise performance management, financial analytics affects all parts of a business and is crucial in helping companies predict and plan for the future.

How do you do a financial analysis?
  • Identify the industry economic characteristics.
  • Identify company strategies.
  • Assess the quality of the firm's financial statements.
  • Analyze current profitability and risk.
  • Prepare forecasted financial statements.
What are accounting consulting services?

An accounting consultant advises the Government on financial decisions and their accounting systems. An accounting consultant stays abreast of changes in tax laws and financial reporting requirements, which ensures compliance with federal laws.