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Preparation of Management Accounts

We handle your Management Accounts

With your business growth and success in mind, regular management accounts can help you obtain vital information to make important decisions for the future of the business in the short and long term and identify the strengths and weaknesses of the business and its processes.

Financial institutions or external investors will be more inclined to offer finance to a company where solid management accounts are prepared on a regular basis. It provides confidence that the business owners are in control of the business and its processes.

In many cases, it is now a requirement of banks that up to date management accounts are provided before any finance or increases in overdraft facilities will be made available.

Regular management accounts can assist management and owners in making important decisions such as whether or not to hire additional staff, use subcontractors, invest in advertising and promotions, continue or discontinue producing certain products and decide on optimal levels of stock.

Management accounts will provide up to date data and analysis of data to assist management in these decisions. Comparable figures with the previous period or the same period in the previous year allows management to quickly identify areas of improved and/ or declining performance of the business.

For example, if a decision were made to do an advertising campaign for a period during the year, management accounts would help identify the impact of the advertising by comparing the turnover in a certain period against the turnover in the previous period or same period in the previous year. Inevitably, other factors may also have influence but accounts can help identify these factors.

Management Accounts

Management accounts will provide up to date data and analysis of data to assist management in these decisions. Comparable figures with the previous period or the same period in the previous year allows management to quickly identify areas of  improved and/ or declining performance of the business.

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