Management Accounts

Management AccountsIn the current economic climate it is vital that as a business owner you have a clear understanding of how your business is performing and management information is key to this.  A company’s management accounts are required to be up-to-date, accurate and delivered on time. We believe that many businesses can be adequately controlled and developed with regular management accounts, once your margins and break-even levels have been evaluated.

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As members of the ICAEW Business Advice Service (BAS) we are able to provide an initial free consultation for new and existing businesses.

Management accounts

Rather than waiting for historic annual financial statements we can provide you with more regular and timely reports. We aim to give you as much useful information as we can, while delivering this at the lowest cost and minimal intrusion into your business.

If you require us to prepare management accounts throughout the year, then we provide a saving for you in the year end fee for the preparation of your financial statements.

You may also wish to use our bookkeeping services to help ensure that your records are up to date to enable management information to be readily extracted.

Forecasting

Forecasting of projected business performance can be a very useful aid to business development and can be important when looking to secure third party debt, such as bank finance.

Using existing knowledge of your business and factoring in your plans and estimates for future developments, such as expansion, we can prepare forecast results. These results can be readily adjusted to provide information based on different potential scenarios.

Budgeting

Once you have prepared your forecasts and budgets it is important to use this information to review your actual performance. We can assist with preparing comparison data and analysis.

Business review

Systems that businesses have put in place do not always continue to provide effective management and control particularly if there has been a significant change such as growth or market place change. We can undertake a review of your procedures and systems and provide recommendations to help ensure that your business is run efficiently in a cost effective manner.