Management accounts

You must make sure that you keep accurate records and accounts for your business. Although you are not obliged to prepare management accounts, they are invaluable in helping you make timely and meaningful management decisions. Most companies produce them regularly, for example, monthly or quarterly.

Your accounting needs depend on your business's size, type and sector, and there will be some business areas that are particularly important to you. Our specially designed report will be produced to help you focus on any key area. The use of variance and key performance indicators can help draw your attention quickly and accurately to any issues.

Management accounts analyse recent performance in these areas and compare it with forecasts and budgets produced at the start of the year. Using this information, you can then measure and compare the performance of different elements of your business. The analysis is usually compared against budget and historical information to help with trend analysis. For example, if you have more than one sales outlet, you might want a separate report for each one, or a report to show how well a particular product has done across different outlets.

Management accounts usually also include forecasts, such as for sales, cash flow and profit. Whatever your requirements, our Financial Controller team can handle them for you.