Management Accounts

Your accounts contain a wealth of information, but many business owners lack the time and expertise to analyse those numbers and make sense of them all.  Often they will be unsure and not know where to start to use them to build a solid plan for future growth.

This is where we can help by acting as a management accountant. This means that on top of looking after your day-to-day bookkeeping and accountancy and tax compliance we combine financial statements and non-financial data about your business to spot trends, gather statistics, and help your company make strategic decisions.

We work with you to piece together the jigsaw, educate you on what all the numbers mean and how to use it all to drive plans for success, expansion and increased profitability.

These accounts are not so formal in layout as the year end accounts however; we do go into the same level of work to produce them to ensure their accuracy.  The information is often laid out differently and in more detail than year end however; it will still comprise of:

• A profit and loss account (showing trading performance)
• A balance sheet (showing the assets and liabilities position
• Performance indicators and if requested a;
• Cashflow statement

Management information can give a clear view of the financial health of your business at a particular cut-off point of your choosing.  They can be produced:

• Monthly
• Quarterly
• Six, nine and/or 10 monthly

It doesn’t matter how often this is, as long as you are getting a handle on the financial position of your business.  Looking at your numbers regularly, not just once or twice a year, enables you to spot any potential cashflow problems, late payers or expenses and take swift action to nip any problems in the bud.

This information is then used for business & finance mentoring & business tax planning.

Contact us for more information on how management accounts and improved management information and business support would help your business.