If you measure it, you can manage it!
Management accounts are reports that are produced to allow senior leaders in business to make decisions based on the financial position of the company.
They detail specific data that is useful for the management’s current needs. The management accounts would show data such as rises in specific sales or dips in certain expenses.
Management reports are exclusively used for internal decision making and are rarely given to shareholders unless specifically requested or the company is struggling in certain financial areas.
Many businesses opt to create management account reports quarterly or monthly as a method of maintaining tight financial control.
Lall Ondhia is able to provide up to date, relevant and quickly produced management information allows you to make the right decisions.
Our management accounts and information services include:
- Monthly or quarterly management accounts
- Reporting of key performance indicators that are the underlying drivers that run your business
- Help with in-house systems for you to produce your own information
- Training on how to get the most out of your information
- Supplying management information to lenders
- Branch/Divisional results
- Actual performance compared to budget and/or comparative periods
- Costing information, including break-even turnover levels