Up to date financial information is key to growing your business, and Management Accounts are more than just a profit and loss!
Management Accounts are used to:
- analyse and report on key financial data within an organisation ensuring that the key staff receive timely, accurate and relevant information.
- produce timely and reliable management information reports on a monthly or quarterly basis.
- assist with the development and control of your accounting system to ensure that accounts are effectively managed.
- investigate variances against budgets and provide analysis of differences and the reasons for them.
- provide comparative information with previous periods, with ratio’s and analysis.
- assist in the preparation of annual budgets and cashflow forecasts.
This will all help to explain the financial implications of business decisions, and aid a more informed decision making process.