Management accounts are different to Year-End Accounts, otherwise known as Annual Accounts. Management Accounts are prepared for the business executives to make informed decisions. The format, structure and style of Accounts is not governed by Law.
They are mainly used as a tool to analyse business financial information and performance. Though the general formats and styles are different, both Management Accounts and Annual Accounts generally show similar results – the Business Profit.
We can prepare your management accounts monthly, quarterly or annually to suit your needs. Your first set of accounts will be free when you agree a 12-month contract with us.
Preparing Management Accounts at a regular period has the following benefits:
- Your year-end tax liability can be estimated fairly accurately in advance
- This will provide the opportunity to take benefit of tax savings by legal means
- Business performance can be reviewed
- It helps you understand business performance and helps you take prompt action to maximise profitability
- It provides insight into other cost saving areas – allowing you to cut costs.
Sterling finance will provide easy to understand monthly or quarterly management accounts at a reasonable cost. Call us on 0161 339 4989 to find out more.