Monthly Management Accounts

Many small businesses limit their accounting functions to day-to-day bookkeeping, debtors & creditors, and tax returns. This is obviously imperative, but it is important also to keep an eye on the big-picture. Correctly prepared management accounts should show the business owner things such as:

• How did your results compare to the budgets / forecasts?
• What are the sales, expenses, debtors and creditor trends looking like?
• How does your cashlow situation look for the next 2 months?
• What capital expenditure are you likely to incur in the next few months and can you finance it?

Not having this very useful information can be compared to driving in a foreign city without a map. Often internal accounting clerks or bookkeepers are not in a position to supply this information, so it is important to establish that the person you are choosing does.
 

• Managment Accounts: Key to Decision Making
   
• What is "hands-on" Financial Management?
   
• Outsourcing your Accounting Department
   
• 10 Reasons to Outsource your Accounting Function
  
  
• Small Business Accounting: To Outsource or not to Outsource?
   
• The Value a Professional Accountant can add to your Small Business
   
• Is Your Small Business Accounting on Track?
   
• Non Profit Organisations - Accounting & Compliance
   
• The Importance of Cash Flow Forecasting
   
• 13 Tips to Spot Fraud on your Financial Statements
   
• Never Ignore Your Balance Sheet

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