What are Management Accounts?

What are Management Accounts?

The production of your annual accounts looks back in time to establish how the business performed throughout the last financial year, what happened in the past can only help so much when making decisions ‘ well lets not make that mistake again!’…..’ oh no we spent too much’, ‘why did we not invest better?’

Having monthly management accounts allows financial data to be analysed and monitored so that informed strategic business decisions can be made in real time.

Management accounts are bespoke to the business and its requirements. Typically, they will include an analysis of the Profit or Loss, include a cashflow forecast, aged payable and receivable analysis, budgets, and all other information specific to the business.

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