Management Accounting

What do I mean by monthly management accounting?

So, the month has ended and now is the the time to collect the last few invoices from your suppliers. You chase up your employees for their expenses and check that all your orders have been delivered and invoiced. Hopefully by the 10th or the 11th of the new month you’ll have the month end closed. This is not monthly management accounting.

How many times have I gone into a business and found that the month-end has been completed and the bank is reconciled. Thats great! Now, how much money have you made, what was the gross margin, the EBITDA? What is your current liquidity ratio? Are you in line with your business plan projections?

There is so much more to consider at the end of each month than ensuring the bank is reconciled, this is book-keeping.

Management Accounting bring major benefits

Take a step away from your ledgers or from the report that your accountant sends you every month or quarter with your VAT return. This is financial accounts not management accounts.

A management accountant will present your business data through multiple lenses to give you a 360 view. From easing the process of problem solving to giving your investors confidence that you’re business is beyond solvent.  Place yourself at the heart of your business, right there in the cockpit with all the controls you need right there in front of you on your dashboard.

Management accountancy is all about producing information that feeds the decision making around business strategy. The fundamentals revolve around budgets, costs and revenues.

Your business plan, financial forecasting and overall vision and purpose are supported by management accounting.

We want to hear from you if you want to take more control of your business.