Management Accounts

Management accounts are not a statutory obligation, they are designed to give you better information to help run and grow your business and this can have big benefits.

What are management accounts and why do you need them?

Management accounts for small businesses typically consist of a profit and loss account, balance sheet, cash flow statement and a short report but can be tailored to your specific needs. You can put the accounts together yourself or more realistically ask us to prepare them for you.

To successfully grow your business, you need to be able to monitor the performance throughout the year rather than just checking your bank balance on the odd occasion. A healthy bank balance doesn’t necessarily mean success - this is simply a snapshot and doesn’t take into account impending outgoings or your future incomings.

Management accounts help lift the lid on all this information and when you are able to identify trends in sales quickly you will also have better information for planning growth, purchase of equipment and tax saving measures.

Benefits include:

• Real time information

• Measuring of the performance of the business and any employees

• Awareness of your cash flow

• Plan tax, dividend and capital expenditure payments

Management accounts provide an invaluable insight into the beating heart of your business, how it is performing, where it might be struggling, and even where the next great opportunity may be hiding.

As a practice it is all about IDENTIFYING, ANALYSING, EVALUATING and COMMUNICATING key financial information to decision-makers, thereby helping them make the best strategic decisions for the business.

Bringing clarity to your management accounts is what we do best. We will identify the financial indicators and drivers that will help analyse performance against targets and provide you with a broader picture of your business’ financial health. We can then give you valuable advice on your main concerns as a business owner, including improving business growth, cash flow and profitability.

Regular, accurate management information is vital to the continued success of your business and our monthly, quarterly, half-yearly management accounts are bespoke to your industry. The information we provide will help you keep track of your business’ performance before the statutory accounts are signed off at year-end.

We have the required knowledge and expertise to assist and prepare managements accounts with a range of additional services designed to make business owners aware of their real time financial data.

Get in touch with our team on 01480 300945 or fill out the form below

We welcome your enquiry. Contact us so we can help you along the way.