Management information and accounts – tailored to your business
Management information is financial information that is produced to help you understand the results of your business. It can range from simple profit and loss reports to detailed information packs containing Key Performance Indicators (KPIs) and other significant information. Management information can be prepared as requested by management and used to make effective decisions regarding the running of your business.
Typically it may include:
- Profit & loss account and balance sheet
- Budgets and cashflows
- Summary KPIs
- Trend analysis
Management information can be prepared as required although monthly or quarterly is usually preferable.
Access to such information provides the business owner with a clear understanding of results, trends, cashflow and budget over/underspends. You can ensure cash is allocated accordingly and decisions can be reassessed if necessary. Monitoring cash flow regularly is vital in providing for future expenses, such as corporation tax and salaries.
Waiting until the year end for results, often historical can be too late if there are problems.