Management Accounting: A business snapshot

Management accounting can help push your business forward. On top of the standard compliance services, management accounts can help you to identify opportunities and risks within your business.

We produce management accounts to give you a snapshot of how your business is performing on a monthly or quarterly basis. Having access to this type of information gives you a better understanding of your company’s sales trends, pricing structures and overheads. Interpreting this data correctly is essential if you’re looking for additional funding from either banks or external investors, as it demonstrates your profitability and cash flow.

Through regular analysis of your finances, we can ensure that your organisation’s growth is sustainable and that your business plan is achievable. We compare your management accounts to the figures we projected in your business plans, allowing you to evaluate your performance from a financial perspective.

Our team have hands-on experience of management accounting. We encourage them to take specific management accounting qualifications (such as CIMA). Many of our staff have previously worked in industry, as opposed to spending their whole careers working in accountancy practices. This gives them a greater insight into what’s important to you as a business owner.

We use digital accounting packages where possible with our clients. This allows us to create bespoke performance reports each month, based on accurate, real-time data. We find this really helps when it comes to managing cash flow and accelerating your business growth.

Credit Control

One of the things that management accounts often highlight is the need for credit control. We can chase clients with unpaid invoices on your behalf. This often avoids awkward conversations with your customers and can immediately make an improvement to your working capital. We’ve had great success with existing clients when implementing credit control measures.

To find out more about the services we offer, and how we can work with you as your business grows, get in touch with the team today by emailing contact@mymanagementaccountant.co.uk. Alternatively, you can call our Huddersfield office on 01484 600 514.