What are management accounts?
Management accounts consist of a set of detailed accounting data, usually prepared by an accountant, either monthly or quarterly, which provide clear real-time insights into the financial position of your business.
They are for your businesses internal use and usually include a profit and loss account and balance sheet, but they can be tailored to your individual requirements.
What is the purpose of management accounts?
The fundamental purpose of management accounting is to provide real time insights, assist with planning and help you measure performance.
If you are seeking a business loan, lenders are also likely to require management accounts.
Management accounts provide all of the information that you need in order to:
- Make informed decisions about your business based on real-time reporting
- Measure performance over specific time periods
- Measure performance of specific products/services or departments
- Monitor cash flow
- Plan tax and dividend payments
- Provide management information for lenders
- Assess overheads
Who would benefit from management accounts?
Unlike annual accounts, management accounts are not required by law and they do not have to be filed with Companies House or HMRC. However, they can prove invaluable to any business with plans to expand, diversify, or who simply wish to monitor performance.
We produce management accounts for a range of clients including privately owned businesses, management teams and business owners.
Our management accounts and information services
At PW John and Co accountants in Weston-super-Mare our chartered certified accountants offer the following services;
- Preparation of monthly or quarterly accounts
- Bespoke reporting of key performance indicators
- Supplying management information to lenders
- Actual performance compared to budget and/or comparative periods
- Costing information, including break-even turnover levels
Find out more
To discuss your requirements in more detail, you can call our team on 01934 412097, email or complete the form on our contact page and we’ll be in touch shortly.
Here are some more resources that you might find useful;
Other Accountancy Services
We offer a comprehensive range of accountancy services for businesses and individual clients. Click the links below to find out more.
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