Management Accounts that are issued regularly, and on time are an essential management information business tool for any business that is serious about measuring performance against expectations. Management accounts ensure the business is on track to achieve its goals, and identifying problems early on.
Management accounts are a good discipline and whatever the size of your business instilling this discipline at an early stage will reap rewards today and into the future. They can be used for measuring performance, reporting variances, analysing departments and products and used for internal management purposes or for supporting funding applications alongside business plans and forecasts.
Management accounts can be produced monthly, quarterly or even bi-annually and tailored to suit your specific needs and requirements.
In addition to the Income and Expenditure Statement (Profit & Loss) and Balance Sheet they can include commentary, variance analysis, budget updates, cash flow statement and forecasts, and key performance indicators.
Like businesses, management accounts come in all shapes and sizes and we have seen the good, the bad and the ugly, so we only produce great management accounts that are accurate and relevant. One business we produced managements accounts for stated ‘those are awesome’ when they saw the first set we issued for them.
For a free no obligation informal chat to look at how we can help you analyse and measure performance and drive your business forward with incisive, accurate and timely Management Accounts please contact us.