Many businesses find it useful to prepare management accounts on a regular basis, either monthly or quarterly, in order to review the performance of the business, especially where budgets are set at the beginning of the year. Other businesses need to produce monthly figures as part of a banking or lending covenant and to report on a timely basis to the third party.
Whatever the driving factor may be, it is clearly beneficial to review business performance on a regular basis, and to use that information to aid your decision making process.
Figures Accountancy Services can assist by producing management information packs tailored to your individual needs but typically covering the profit and loss account and balance sheet – highlighting important variations. Where appropriate these reports can be broken down between departments or divisions.
