Large organisations never go more than 30 days without drawing up an interim set of accounts. Most small businesses don’t bother doing that. But they should – and here’s why.
Imagine you’re driving to a destination you’ve never been to, you have no map and the only information you’re getting is about the place you’ve just left.
That’s pretty much what it’s like when you end up trying to make meaningful decisions about the future of your business based on management accounts that could be anything up to year old and which essentially reflect things you were doing up to two years ago.
Your competitive environment will have changed and it’s entirely possible, if not probable, that your core objectives have changed with it. Your business needs to be agile and so does your decision-making – and that’s impossible if you’re basing those decisions on outdated information.
If you want to have true control over your business, allowing you to maximise your productivity, performance and profit by being able to make quicker, more accurate decisions, then monthly management accounts will give it to you.
We can draw up monthly management accounts for your business and have them in your inbox and on your desk within touching distance of a month-end – meaning you’ll be making good decisions about your business and its direction within days, rather than waiting up to a year to make bad ones.
The insight we can provide through our management accounts service means you’ll be able to:
- React quickly to exploit or mitigate the effects of sales revenue and costs on your break-even position
- Protect profitability by identifying and tackling problems immediately
- Enforce accountability through measuring results against budget in every area of your business
- See the real-time effect of your decision-making on your business results
Management accounts provided by us mean there’ll be no surprises in store. We’ll be on hand to help you get the most out of them so that you get the wins you deserve from better forecasting, smarter decisions and a more agile strategy.
Interested in talking about how a sound management accounting strategy can drive your business forward? Call us on 020 3667 5200 or email us at firstname.lastname@example.org and let’s start the conversation.