Accurate and timely management accounting underpins every successful business. It’s the bedrock of success.
As a management team or owner of a business if you have to hand accurate and up to date information about the financial performance of your business you will be able to take the decisions needed to run it effectively.
It’s because we recognise the vital functions of management accounting that First Call places such an emphasis on this area of our business. Strategic management accounting is about being so close to a client’s business that the figures tell a story that might not be obvious to an outsider. It’s about being able to see beyond the obvious and to think and advise in terms of the bigger picture. It’s what First Call is good at.
What is typically included within a set of management Accounts?
The objective of management accounts is to provide the management of the business with a regular set of reports that summarises their accounting data into a form that enables them to easily get an overview of the current position.
What is included can vary depending on the size and nature of the business but typically it will include the following:
- Balance sheet
- Income statement
Help with your management accounting
As chartered management accountants we have the expertise to help you set up a suite of management reports that will work for your business. Whichever accounting package you use we can pull the relevant information from it and display it in a meaningful way that will enable you to easily identify potential issues that need to be addressed. We can also help you to set key performance indicators for your business.
We can then provide them to you on a regular basis and give whatever additional support you need to understand the information they provide and make the right decisions for your business.
Need a Hand?
Struggling with the huge amount of financial data from your accounting package? Get in touch with the team here at First Call on 0117 379 0810 and see how we could transform it into a set of tools that will help you make informed decisions about the future of your business.