Management accounts are interim reports usually requested by the owners/shareholders of the business to assess its performance. They are often used by lenders to assess the business in applications for financial assistance. On a basic level, they include the Profit and Loss Report, and the Balance Sheet. They might also include a Statement of Cash Flows, Aged Receivables and Aged Payables (outstanding amounts owed to, and owed by, the business) and an analysis.
Our management account service includes a detailed report with a Profit and Loss and Balance Sheet as a minimum. Other report will be included as necessary. We will also provide a detailed analysis of the report to help business owners understand the information and make necessary decisions. Along with the figures we also include visual graphs and charts to make the information more understandable, and ensure the period we are reporting for is compared against relevant prior periods to provide context.