Management accounts

What can you expect?

What are management accounts? Are they really that important? Of course they are.

Management accounts are produced monthly, quarterly or yearly and are a snapshot of how your businesses looks at a particular point in time. These can be based on historic information or can be a forecast for the future.

Management accounts will let you:

• • Better manage your cashflow and resources
  • Show you trends in your business and allow you to act quicker
  • Allows for comparison against original budget

These are key decision-making tools and can help when taking calculated risks.

Many accountants provide these types of accounts without fully understanding the market in which they operate, but still charge you for the pleasure of doing them.

We want you to understand your business and the market so that when the time comes to make a decision, all risks have been accounted for.

Our clients love to meet us when discussing future opportunities or even just to discuss their annual accounts. Management accounts gives us that extra layer of visibility and allow us to go into the key performance indicators (KPIs).

We plan and look for improvements within:

• • Profit margins
  • Supplier credit terms
  • Customer credit terms
  • Stock rotation
  • Stock holding days
  • Seasonal variations to maximise profits
  • Asset turnover
  • Return on capital employed

You may not know what the above are exactly, but all are very important. Come and work with us and find out how we can help your business.

Talk to us and let’s make a start on your Diamond journey!

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