FREE EVENT | Understanding your Numbers – Predicting the Future
How would you like to know the impact of a decision, before you’ve made it?
With Management Accounts, you can!
How do Management Accounts help business owners?
Having management accounts allows you to make informed decisions as they enable you to see your business’ financial position in detail.
Management accounts collate information such as revenue, cashflow and outstanding debts to produce timely trend reports. They combine financial information with non-financial information to paint a complete picture of the business.
Questions Management Accounts should help you answer:
- Can I take on another employee?
- Can I afford to move premises?
- If I increased fees by x, what would this do to my bottom line?
What makes up a traditional Management Accounts pack?
- Profit & Loss report
- Key Performance Indicators (KPIs)
If you use a traditional accounts system, generally the information you are reporting on is historical. For example if your book-keeping is up-to-date as of last month, it takes a week to get this data to your accountant and another week to produce the management accounts pack; the pack could already be 2 months out of date. This is where technology has helped! If you use an online accounts system, your information can be kept in real-time, which means we are able to provide much more up-to-date Management Accounts, enabling you to make decisions based on current information rather than 2 month old information.
There are two main reasons for using Management Accounts information; if you’re looking to grow or if you’re looking for finance.
To give you an idea on what our Management Reports look like, click the link for our Management Snapshot Dashboard. Sample Snapshot Report – Ad Valorem
Our event will give you a more in depth explanation of what Management Accounts are, what they look like and how they can help you. If you are interested in attending, please drop George an email to book your free place.
Date: Tuesday 21st November
Location: Ad Valorem Office
Presenter: Paul Jenkins FCCA – Head of Business Services
Ad Valorem Accountancy Services Ltd.