Access to regular management information is crucial to the successful operation of your business. You can react to information in a proactive manner if it is provided on a timely basis. The frequency of the information required can be determined by you i.e monthly, quarterly or half yearly which ever meets your business needs effectively.
Every Business reaches a point where the owner/managers time needs to be focused on development & growth. To enable this they need up-to-date & accurate information on cashflow, margins & profitability.
FM Accountants will tailor a management accounts reporting pack which will provide key analysis and information on the financial and operational performance of the business.
As part of this process, we will:
- Nominate a senior member of staff at Partner level who will work with client businesses to provide experience and professionalism in the financial management of their business.
- The staff member will attend regular management meetings adhering to a structured agenda to facilitate management.
- Provide regular management accounts which will be presented to the client by the nominated senior partner.
- The nominated partner will gain an in-depth understanding of the client business and will bring this knowledge and their general business experience to support the development of the client’s business.
- Focus will be on the driving the profitability of business.
- Align the business strategy to the overall business Objectives.
- Ensure the business is well resourced to implement the strategy.
- The monthly management pack will be prepared to a pre-determined monthly deadline.
This reporting pack will include:
- A summary Dashboard Report on all key aspects of the business.
- Monthly Profit Loss with Year to date.
- Balance Sheet.
- Cash Flow forecast.
- Identification of abnormal or non-recurring charges and income.
- Age analysis of Debtors with provision for bad debt.
- Age analysis of reconciled creditors highlighting creditor accounts due for payment.
- Summary of outstanding taxes due.
The availability of timely and accurate management information will provide you with:
- Information from which management decisions can be based.
- Ensure information is available to assist Strategic Planning.
- Regular feedback on the performance of the business.
- Ability to control overheads and costs.
- Ability to prepare meaningful cashflow forecasts.