What are management accounts?
Management accounts are in-depth reports, prepared periodically with business financial and statistical information. These include up-to-date summaries for cash flow, profit and loss and balance sheets, produced at regular intervals to suit your needs.
Historical financial and statistical data can be used to monitor how your business is performing while identifying gains and losses. Management accounts can be a useful tool for planning your future company strategy to increase revenue. Summarised performance data can also help you make important short-term decisions for the day-to-day running of your business.
How can we help?
We are on hand to prepare periodic management accounts on your behalf. Ensuring that you have the most up-to-date information on your company’s performance when you need it.
Management accounts can focus on different areas of your business, depending on what’s important to you:
- Sales process – e.g. pricing, distribution and debtors
- Purchasing process – e.g. stock records and creditors
- Fixed asset register – e.g. fixed asset identification numbers, cost and date of purchase
- Employee records
The format of the information can be tailored to suit your needs. Our approach is to present you with information in a format that is clear and concise, without any complex jargon.