Management Accounts

If you are looking to gain an insight into the financial health of your business, we recommend preparing management accounts. Usually run monthly or quarterly, they give you an up-to-date financial snapshot of your business and how it is performing.

Unlike statutory accounts, management accounts are designed for internal use within a company. They help you, as a business owner, to make informed decisions based on real world data – rather than guesswork. And, by tracking key financial metrics, they also help you to monitor your business’s performance and identify areas for improvement.

They can also help to highlight potential issues and cash flow problems, allowing you to take timely corrective action. They can be used to hold departments within your company accountable for their financial performance. And, they provide essential information for creating and monitoring budgets to ensure your company stays on track.

Experienced Accountants

As experienced Chartered Certified Accountants affiliated with the Association of Chartered Certified Accountants (ACCA), we help our clients with all aspects of management accounting. We use our years of business insight, to not only prepare your management accounts, but to help you analyse them too.

We work closely with our clients to prepare financial reports that most benefit the operation of their business. This enables them to assess their organisation’s performance and make decisions based on financial facts rather than gut feelings.

Our management reports might include any of the following:

• Cash flow statements
• Balance sheets
• Profit and loss statements
• Financial reporting
• Budget vs. actual analysis
• Financial monitoring and forecasting
• Trend indicators

And, by keeping our clients day-to-day bookkeeping up to date, we can ensure that any issues are highlighted early.

Do I need Management Accounts?

You are not required by HMRC to produce management accounts. However, some companies may require them for financial regulation or to maintain their accreditation with industry bodies. But many organisations choose to prepare monthly or quarterly management accounts to help them with the running of their business. They take advantage of the strategic advantage it gives them when planning for growth.

Management Accounts Preparation in Stanmore

Our office is based in Stanmore, Middlesex, but we prepare management accounts for our clients across London and the South-East. Whether you require monthly, quarterly or yearly reporting, our experienced accountancy team can help.

At Michael King & Co, we offer a very competitive and honest pricing structure for all of our clients. We place great value on client satisfaction, ensuring that we always provide a timely and accurate service. So, if you would like to speak to us about preparation of your management accounts, get in touch. Call today on 020 8954 5879 or send us a message.