Management accounts ensure your business is on track.
Management accountancy services provide a much greater “insight” into the financial working of your business, going beyond just an annual statutory accounts preparation.
Although a traditional accountant can of course offer advice on how a company might be profitable, management accountancy provides greater ability to predict the consequence of any business or financial decision and manage financial performance, strategy and risk.
These are accounts tailor made for your needs, reporting to you on a regular basis to identify key indicators allowing effective performance monitoring and business decision making. They can be as often as you need them and concentrate on important financial data which underpin the strength of your business.
As well as recording actual data, management accounts often benchmark against budgeted and past performance allowing an informed, active and forward-looking approach to business progression. The benefits of this can be far reaching.
As examples, management accounting information can highlight cash and funding requirements, support your plans for expansion or sale of the business and allow you to extract a sustainable living from the business without affecting its underlying strength.
A notable characteristic of management accounts is that they are not reported externally, unless you choose to, so establishing a flexible form of reporting for managing the business.
Given this flexibility, management accounts tend to be viewed as providing a key support tool for running a business, which sits alongside annual and other historic accounts as part of an overall effective financial reporting framework.
If you would like to discuss our management accountancy services, please email firstname.lastname@example.org or call us on 01962 856 990.