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BUSINESS MANAGEMENT

Management is responsible for the decision-making choices related to changes needed to adapt to external and internal factors that impact business operations. Management must also decide where to use capital resources within an organization. 

 

Planning and organizing is a core function of business management. Business planning involves developing business goals, and designing strategies and organizing business resources to advance those goals. Both internal data related to organizational performance and external data about the industry, markets and competition provide insights business management needs in order to direct the company's resources and identify organizational needs.

Lynn Manfree, CPA
Business Manager

Pacific Legacy’s accounting system is operated in accordance with generally accepted accounting principles and federal cost accounting standards. The project cost accounting system, Deltek SEMA4, utilized by Pacific Legacy is an integrated, automated accounting system which tracks the project related labor and expenses by category, and is capable of handling contract cost accounting for projects of all sizes and complexity. Pacific Legacy's Business Manager, Lynn Manfree, CPA/CFO  has established an internal control program, which is audited annually by an independent accounting firm, that ensures the accuracy of the data to provide our clients with the best value for their contracts. Pacific Legacy’s internal control system includes careful monitoring and review of all invoices for cost against contract terms, costs against budget, reasonableness, and project coding. All project managers must approve all project related expenses and timesheets before data is entered into the accounting system, which includes an additional review by the Business Manager for accuracy of input. Pacific Legacy regularly reviews its policies and practices of preparing project cost and schedule estimates with their Project Managers, and require the Project Managers to review all project costs semi-monthly for project accountability. This process includes reviewing individual tasks to the overall technical progress of the project, comparing actual to budgeted costs, and scheduling remaining tasks to meet the terms of the contract / budget.

Lynn Manfree is a Certified Public Accountant and is responsible for the organization and operation Pacific Legacy’s accounting system. Our system is operated in accordance with generally accepted accounting principles and federal cost accounting standards. The project cost accounting system, Deltek SEMA4 is an integrated, automated accounting system which tracks the project related labor and expenses by category, and is capable of handling contract cost accounting for projects of all sizes and complexity. Ms. Manfree has established an internal control program, which is audited annually by an independent accounting firm, that ensures the accuracy of the data to provide our clients with the best value for their contracts. Pacific Legacy’s internal control system includes careful monitoring and review of all invoices for cost against contract terms, costs against budget, reasonableness, and project coding.