Who is it for
If you are an ambitious business owner just starting out or have been in business for a long time and want to drive success by staying ahead of the curve, knowing how your business is continually performing and the direction it is headed then this is for you. With professional advice and expert help you can build a truly successful business.
Occasionally, the banks or other lenders may require periodic management accounts (for example, as part of a loan covenant) to ensure the business is meeting the requirements of the lending facility.
Why is it important
Management Accounts are used by businesses widely to help managers and business owners steer the business in the right direction. It can be tailored to provide key information relevant to a business and its stakeholders. It involves analysing business income and expenditure and other non-financial metrics relevant to a business and its activities, and preparing meaningful reports to aid decision making.
How often do I need it
It depends. Most businesses choose to prepare management accounts on a monthly basis. Some prepare on a quarterly basis and others as and when required. There is no set time frame for management accounts, it is a choice made by the managers and business owners based on their needs.
How we can help
We will tailor a bespoke management accounts pack either monthly, quarterly or even weekly that is designed to suit your business requirements and your personal goals. We will advise you of the most suitable option for your business and guide you on how to make use of this important piece of information. We won’t just stop there, we’ll help you make the right business decisions based on the most up-to-date information available to you.
Get in touch with us today and get expert help now!