Management Accounts

Obtaining regular and reliable management information is vital to the continued success of any business.

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"We can prepare your monthly or quarterly management accounts to ensure you always have reliable and accurate information on which to base your business decisions."

Many small businesses do not prepare management accounts, so the only time they review the results of their business is when the year end accounts are prepared, which is typically at least six months after the year end. Year end accounts do not carry much detail which means that the business is often lacking in detailed information. Consequently a business cannot use this for comparisons to actual and expected performance.

All businesses should carry out reviews of their results periodically during the year, and compare the actual results to last year and expected figures. This will help to identify any potential problems so that corrective action can be taken on a timely basis.

There is no legal requirement to produce management accounts but having this package from your advisor will give you more of an insight into your business and as such enable you to run your business more effectively