Informative Management Accounts
We take the financial pulse of the business
Our management accounts help you make better decisions. We help you identify the most profitable clients, services and route to market. Whereas Annual Accounts look back at the year, Management Accounts provide regular performance reports as things are happening and are tailored to what matters most for each organisation.
We provide monthly and quarterly Management Accounts to business owners, Boards and leaders. These reports show how well the organisation is performing and highlight financial issues. For charities our Management Accounts give Trustees vital information to enable you to protect and promote the goals of the charity.
Through regular Management Accounts we help you to be proactive and plan effectively for the future.
A mandate for action
For each organisation, we agree on the types of financial information that are critical to its successful operation.
The Management Accounts we provide generally include a performance summary, profit and loss account and balance sheet, but depending on requirements we can provide a greater focus on product line sales performance, debtor information or stock management.
With Management Accounts you’ll have a clear view of actual results achieved versus forecast.
We highlight where results deviate from the plan. Further investigation into these differences can give you the opportunity to implement new steps to remedy a situation or expand and develop a trend.
We can prepare your Management Accounts from your own in-house records. Where there is no dedicated bookkeeper in-house, outsourcing to a professional bookkeeper is a sensible option. We can introduce you to one of our independent bookkeeping partners. Using a bookkeeper will undoubtedly save you administration time but it can also help you save on your accountancy charges. Since our independent bookkeepers organise information in line with accounting principles, this means that with their support your Management Accounts can be produced more cost-effectively by HB Accountants
Management Accounts for Charities
Charities rely on Management Accounts to provide transparency for their operations. We work with a wide range of charities and social enterprises and understand their needs and concerns. If you are a Trustee, you’ll have the resources you need to make good decisions with regular, robust Management Accounts.