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Annual financial accounts provide a look at past information, which means that it is possibly too late to take any action on what has already happened. On the other hand, management accounts that are produced more regularly, provide greater detail than the annual profit and loss statement.
With management accounting, sales can be analysed and overheads can be allocated accordingly to reflect true profit levels. This gives business owners greater control, as they are able to identify problems or opportunities soon after they arise.
Many of our clients, both within and beyond Newcastle-under-Lyme, find the up-to-date information provided in management accounts to be invaluable, as it empowers them to make decisions that are more timely and effective.
Management accounts are generally produced monthly or quarterly. However, businesses going through a critical growth stage may require them more regularly, such as on a weekly basis.
At Slaters & Co Accountants, every management account report is designed and formatted to suit the client. Our specialists can identify opportunities for profits, monitor and highlight performance, provide budget comparisons, supply trend analyses, and much more.
No obligation discussion
We offer a free initial chat, so there’s no charge or obligation. To arrange simply call our friendly team on 01782 566101. You can also email Contact@SlatersAccountants.co.uk to get in touch.