Management Accounts

Management Accounts:

You might ask ‘What are Management Accounts’?
Answer: Set of detailed and summarized accounting data (Profit & Loss, balance sheet, sales reports, comparative reports, and cash flow) prepared and presented (usually every month, bi-monthly or quarterly) specifically for business’ management. The objective of management accounts is to provide timely and key financial and statistical information required by managers to make all necessary decisions in real time.

Reports vary from client to client but would always include Profit & Loss and Balance Sheet reports. Included are Total to date and also displays monthly/bi monthly or quarterly figures as the year progresses.

It is important to note that all accounts are reconciled and supporting working papers are avail should clients have any queries.

Reports are prepared, presented and it is always encouraged that a meeting with the management team (as required) is held to discuss and consider the profitability and any items that need immediate action.

Clients who avail of this service have the knowledge and ability to guide and direct their business with confidence.

There may be an initial tranche of work to bring the accounts systems up to date but the cost to prepare these key reports plateau’s and can for the costs be the savior of any business.

This information is critical to all businesses. Can you review your business’ performance on an ongoing basis? 
Are you waiting until your yearend accounts are completed (which is generally months after the actual year end) to review your business’ performance and is actually way too late?

Contact us at Horizon Accounting where we can bring new vision to your business through simple, effective management accounts.