Management Accounts (Cash Flows and Budgets)
Management accounts are an important tool to help establish a current position of your organisation in good time rather than finding out after the year end date. The benefit of this being that you can identify any problems sooner and hopefully tackle them in good time. Management accounts are also a key requirement of banks and stakeholders to help them keep abreast of the organisation. Management accounts are also very useful for tax planning work, as often, action needs to be taken within the accounting year to make tax savings, a common example being replacing capital equipment e.g. motor vans within the accounting year in which high profits have been achieved.
If you require cash flow forecasts or budgets, be it for the bank or internal purposes, we can support in preparing these to help management and, again, satisfy stakeholders.
Cash flows and budgets can be crucial when working with tight allocated budgets and can help your organisation keep tabs on spending, we can also assist in carrying out variance analysis of actual costs with budget to identify areas that need improvement.
With the ‘hands on’ service we provide, we can liaise closely with the management to help your organisation flourish.