Maagement accounting

CONSULTING

Specific types of consulting include:

Management consulting

Medical practice consulting 

Biotechnology consulting

Environmental consulting

Faculty consulting

Human resource consulting

Information consulting

Information technology consulting

Performance consulting

Political consulting

Supply chain consulting

Trial consulting and etc.

 

-  is the practice of helping organizations to improve their performance, primarily through the analysis of existing organizational problems and development of plans for improvement. Organizations may draw upon the services of management consultants for a number of reasons, including gaining external (and presumably objective) advice and access to the consultants' specialized expertise.

As a result of their exposure to and relationships with numerous organizations, consulting firms are also said to be aware of industry "best practices", although the transferability of such practices from one organization to another may be limited by the specific nature of situation under consideration.

Consultancies may also provide organizational change management assistance, development of coaching skills, technology implementation, strategy development, or operational improvement services. Management consultants often bring their own proprietary methodologies or frameworks to guide the identification of problems, and to serve as the basis for recommendations for more effective or efficient ways of performing work tasks.

 

The functions of consulting services are commonly broken down into eight task categories. Consultants can function as bridges for information and knowledge, and that external consults can provide these bridging services more economically than client firms themselves.

Marvin Bower, McKinsey's long-term director, has mentioned the benefits of a consultant's externality, that they have varied experience outside the client company.

Consultants have specialized on tasks that would involve high internal coordination costs for clients, such as organization-wide changes or the implementation of information technology. In addition, because of economies of scale, their focus and experience in gathering information worldwide and across industries renders their information search less costly than for clients

 

 

FUNCTIONS

APPROACHES

 

 

In general various approaches to consulting can be thought of as lying somewhere along a continuum, with an 'expert' or prescriptive approach at one end, and a facilitative approach at the other. In the expert approach, the consultant takes the role of expert, and provides expert advice or assistance to the client, with, compared to the facilitative approach, less input from, and fewer collaborations with the client(s). With a facilitative approach, the consultant focuses less on specific or technical expert knowledge, and more on the process of consultation itself. Because of this focus on process, a facilitative approach is also often referred to as 'process consulting,' with Edgar Schein being considered the best-known practitioner. The consulting firms listed above are closer toward the expert approach of this continuum.

Many consulting firms are organized in a matrix structure, where one 'axis' describes a business function or type of consulting: for example, strategy, operations, technology, executive leadership, process improvement, talent management, sales, etc. The second axis is an industry focus: for example, oil and gas, retail, automotive. Together, these form a matrix, with consultants occupying one or more 'cells' in the matrix. For example, one consultant may specialize in operations for the retail industry, and another may focus on process improvement in the downstream oil and gas industry.

 

SPECIALIZATION

 

 

Management consulting refers generally to the provision of business services, but there are numerous specialties, such as information technology consulting, human resource consulting, virtual management consulting and others, many of which overlap, and most of which are offered by the larger diversified consultancies. So-called "boutique" consultancies, however, are smaller organizations focusing upon one, or just a few of, such specialties.

The 1990s saw an increase in what has been termed a 'future-based' approach. This emphasized language and alignment of people within an organization to a common vision of the future of the organization, as set out in the book "Three Laws of Performance". The essential concept here was that the way people perform is seen to correlate to the way that world occurs for them, and that future-based language could alter the way the future actually occurs for them. These principles were increasingly employed in organizations that had experienced a market transition or a merger requiring the blending of two corporate cultures. However, towards the end of the 1990s the approach declined due to a perception that the concept outlined in this book did not in practice offer added value to organizations.

 

REVENUE MODEL

 

 

Traditionally, the consulting industry charged on a time and materials basis, billing for staff consultants based upon the hours worked plus out-of-pocket expenses such as travel costs. During the late 1990s and early 2000s, there was a shift to more results-based pricing, either with fixed bids for defined deliverables or some form of results-based pricing in which the firm would be paid a fraction of the value delivered. The current trend seems to favor a hybrid with components of fixed pricing and risk-sharing by both the consulting firm and client.

TRENDS

 

 

The use of management consultancy is becoming more prevalent in non-business fields including the public sector; as the need for professional and specialist support grows, other industries such as government and not-for-profit agencies are turning to the same managerial principles which have helped the private sector for years.

An industry structural trend which arose in the early part of the 21st century was the spin-off or separation of the consulting and accounting units of the large diversified professional advisory firms most notably Deloitte, Ernst & Young, PwC and KPMG. For these firms, which began operation as accounting and audit firms, management consulting was a new extension to their organization. But after a number of highly publicized scandals over accounting practices, such as the Enron scandal, these firms began divestiture of their management-consulting units, to more easily comply with the tighter regulatory scrutiny that followed. In some parts of the world this trend is now being reversed where the firms are rapidly rebuilding their management consulting arms as their corporate websites clearly demonstrate.

 

Deloitte Touche Tohmatsu Limited, commonly referred to as Deloitte, is one of the Big Four professional services firms along with PricewaterhouseCoopers (PwC), Ernst & Young, and KPMG.

Deloitte is the second largest professional services network in the world by revenue and has 193,000 employees in more than 150 countries providing audit, tax, consulting, enterprise risk and financial advisory services. In FY(fiscal or financial year) 2012, Deloitte earned a record $31.3 billion USD in revenues.

In 2012, it is reported that in the U. K. Deloitte has the largest number of clients amongst FTSE 250 companies.

Its global headquarters is located in New York City, United States.

 

Deloitte” is the brand under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management, and tax services to selected clients. These firms are members of Deloitte Touche Tohmatsu Limited (DTTL), a UK private company limited by guarantee. Each member firm provides services in a particular geographic area and is subject to the laws and professional regulations of the particular country or countries in which it operates. DTTL does not itself provide services to clients. DTTL and each DTTL member firm are separate and distinct legal entities, which cannot obligate each other. DTTL and each DTTL member firm are liable only for their own acts or omissions and not those of each other. Each DTTL member firm is structured differently in accordance with national laws, regulations, customary practice, and other factors, and may secure the provision of professional services in its territory through subsidiaries, affiliates, and/or other entities.

In Azerbaijan, Deloitte provides a full range of audit and accounting, management consulting services, financial advisory, and tax and legal services.   The firm’s very talented and well-trained staff have extensive experience in these service lines and in the local market and provides international quality work by its partners, managers and professional staff. Whenever special skills are required for a project, we can always count on expert support from our other CIS offices if requested as well as from Deloitte Touche Tohmatsu.

 

A part of the Deloitte corporate culture is to support talented and less fortunate people. We provide a wide variety of charities and community organizations with our professional support and financial contribution. Sponsoring social events, workshops and seminars, we share our knowledge and professional experience with the domestic business community.

In addition to the corporate contribution, our people personally volunteer to provide financial support for worthwhile causes.

  

 

Community investment

 

Making things happen in business today is easy. But making big things happen in a way that creates value – that’s a little trickier. Especially when the line between opportunity and risk can blur in the blink of an eye.

We help our clients in their efforts to take advantage of big opportunities every day. With deep industry knowledge, broad capabilities, and solid strategic alliances, we have what it takes to help them look at challenges from every angle and create solutions that avoid unnecessary risk. Even better, we help our clients keep implementation in mind from the outset when we help them design these solutions.

Working at Deloitte Consulting means seeing the big picture, the smallest detail, and seeing the engagement through from start to finish. We gain deep understanding of the issues by working side by side with the client. Our consultants bring unique insight and knowledge to the table. And we develop innovative strategies and solutions to achieve the desired results. What’s more, we help execute the plan – because we believe that’s the only way to create real and lasting value.

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Consulting in Deloitte

 

Cash flow statement

 

Balance sheet

 

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