Management accounts are invaluable in helping you to make timely and meaningful management decisions about your business. Every businesses has different management accounting needs, your needs will vary depending on the business areas that are important to you. These may include:

•    Sales process – including pricing, distribution and debtors
•    Purchasing process – including stock records and creditors
•    Employee records
•    Profitability
•    Performance ratios
•    Credit control
•    Budget comparisons

Although there is no legal requirement to prepare management accounts, it is very effective for the running of your business. Most companies produce them regularly - eg monthly or quarterly. Having a management account in place, you will be increasingly aware of financial aspects of your business. We will also examine your business routinely, providing you with updates and forthcoming financial alerts.