Alternatively, we can also design and implement systems so that you can produce management accounts on an ongoing basis. If you are unfamiliar with accounting, we can also help you to understand and get the best out of management accounts.
Some businesses will require management accounts to be prepared on a monthly or quarterly basis for the purposes of providing information to your bank to support a borrowing facility. But it can also help you know what is going on in your business sooner than waiting for your year end accounts to help your business respond faster to changes happening within the business.
We can produce management information in various ways and styles, including identifying and measuring underlying drivers that run the business.
We can either prepare management accounts from the bookkeeping we do for you or by taking your books and making corrections and putting in the all important accruals and prepayments which are often only recognised by people with an accountancy background. In both cases we would discuss the figures with you so that you understand what they mean and how they come about. This more detailed approach allows us to understand your business better. Consequently, we can help you move your business forward.
We can structure the reporting to also advise you on the following factors:
- Branch/Divisional results.
- Actual performance compared to budget and/or comparative periods.
- Costing information, including break-even turnover levels.
Please contact us if you have any queries on this service.