Management accounts provides management teams with relevant financial and non-financial information to enable informed and timely decisions to be taken.
Although they are not obligatory, and are only used internally within a business – we strongly recommend them. Otherwise you may be making important business decisions without knowing all the facts. Depending on your own business needs, they can be produced monthly, bi-monthly or quarterly.
If you do not have the resource to produce regular management accounts in-house, we can help you.
Our management accounting service is tailored to your specific requirements:
- Accurate and timely financial and statistical information including: profit and loss analysis, staff reports and sales information
- Tailored reports by reference to your management needs, which enable you to monitor spending and financial controls
- Identifying and reporting against key performance indicators
- Provide your business with a high level of professionalism and integrity, which can be invaluable when negotiating with potential funders
- Explanation of the financial consequences of business decisions
In addition to the above, we can also help you challenge, understand and get the best out of your management accounts, by acting as your outsourced FD or as a sounding board.
Managing the data
In addition to producing management accounts, we can also advise on your reporting processes. This may involve working with your teams to identify what information is key to your success and the most effective way to extract it.