Focussed Management Accounts
We take the financial pulse of your business
Better management decisions
Our management accounts help you make better management decisions to maximise profits and increase growth. We help you identify the most profitable clients, services, products and routes to market. Whereas Annual Accounts look back at the year, Management Accounts provide regular performance reports as things are happening and are tailored to what matters most for each organisation.
We provide monthly and/or quarterly Management Accounts to business owners, boards and leaders. These reports show how well the organisation is performing and highlight financial issues. For charities our Management Accounts give Trustees vital information to enable them to protect the charity and promote its goals.
Through regular Management Accounts we help you to be proactive and plan effectively for the future.
A mandate for action
For each organisation, we agree on the types of financial information that are critical to its successful operation.
The Management Accounts we provide generally include a performance summary, profit and loss account and balance sheet, but depending on requirements we can provide a greater focus on product line sales performance, debtor information or stock management.
With Management Accounts you’ll have a clear view of the results achieved versus those forecast.
We highlight where results deviate from the plan. Investigating these differences can give you the opportunity to proactively remedy a negative situation or to develop and exploit a positive trend.
We can prepare your Management Accounts from your own in-house records. Where there is no dedicated bookkeeper in-house, outsourcing to a professional bookkeeper is a sensible option. We can introduce you to one of our independent local bookkeeping partners. Using a bookkeeper will undoubtedly save you administration time but it can also help you save on your accountancy charges. Our independent bookkeepers organise information in line with accounting principles which means that your Management Accounts can be produced more cost-effectively by HB Accountants. If you use a cloud accounting system then you, your bookkeeper and HB can all see the up to date state of your accounts.
Management Accounts for Charities
Charities rely on Management Accounts to provide transparency for their operations. We work with a wide range of charities and social enterprises and understand their needs and concerns. If you are a Trustee, our regular, robust Management Accounts give you the resources you need to carry out effective financial oversight of the organisation, and make good decisions for the future.