Rather than seeing a set of accounts just once a year, you receive a full set of management accounts each month or each quarter. The management accounts are bespoke to each company so we can show you the information that you need to run your business.
Bespoke accounts commonly include:
For management accounts to be accurate they need to have adjustments for depreciation, accruals, prepayments, accrued income and deferred income and we complete these on your behalf.
This enables us to provide you with the information required to drive your business growth!
The Profit and Loss allows you to see how the company has performed in the last month or quarter and is often the first thing clients look for, we can look at trend data on identifying performance vs budget, prior month, same month last year. Alongside the report pack, the main value we add is our analysis and commentary on the monthly or quarterly performance, as your external trusted advisers.
If you only see your accounts once a year you can be looking at performance dating back 21 months so how can you expect to make timely business decisions based on this. Having the live management accounts available allows you to make informed commercial decisions to drive your business forward in real time.
We pride ourselves on:
So you can look at upto date accounting information and KPI data to make informed business decisions to help your business grow.
All our reports are designed specifically for you and the information you require. The starting point for financial management accounts is the Profit and Loss, Balance Sheet and Cashflow BUT we do produce KPI reports where the focus isn’t just on numbers. One of the most valuable aspects of the management reports is our detailed commentary translating all of the above into useable information.
Clients need management accounts for various reasons. The main reason is directors who value the importance of company finances and want to see how they are performing. We also have instances where banks require external reports to support lending, up to date information to support mergers and acquisitions and information to be shared with management teams, senior management teams and at board meetings.