The Business Bulletin
Management accounts – worth your time and resources? I had the conversation again today with a new client; “I prepare management accounts every month”…”Great, what do you include and how do you use them?“…”Well I run the Reports on the software and save them in a file”…”OK, but how do you use them?”…”Well I don’t, I just file them”.
Management accounts can be
maintain complete and accurate
When businesses move beyond
incredibly valuable. However, if you
records to track cash flow, ensure
these basic requirements, whether
are one of the many businesses
suppliers are paid on time and
due to employing staff, tendering
preparing reports simply to file
crucially, to ensure customers are
for larger projects, taking out
them away, then please stop and ask
paying their invoices.
finance or simply growing, then
yourself, why do you need or want to
management accounts can help you
prepare management accounts?
run your business more effectively. If
Not all businesses need management accounts. For smaller businesses, it is often sufficient to
Issue 17 – Finance | 9
