Management accounting

services management accounting

Having accurate, up to date information readily at hand is crucial to knowing the status of your business. Our management accounting services provide you with a monthly summary of your business finances, which you can use to analyse the strengths or weaknesses in your operational structures. This allows you to focus on building your business, based on informed decisions and sound management principles.

We set up, manage and report on every aspect of your monthly financial management requirements, including:

  • Comparative cash flow statement with prior year
  • Monthly management reports
  • Preparation of Cash Flow Forecasting and Budgeting
  • Assisting with monthly or yearly cash flow forecasting
  • Budgeting can include income statement and balance sheet
  • Assessing of current cash flow needs and provide recommendations to cost-cutting of expenses

Cost and management accounting

Having management reports and accounts prepared will provide accurate and timely financial and statistical information. This can be used by managers to make day-to-day and short-term decisions. These reports typically show the amount of available cash, sales revenue generated, amount of orders in hand, state of accounts payable and accounts receivable, outstanding debts, raw material and inventory.

For example, knowing the sum of your company’s cash revenues and expenditures and comparing them to the previous year, will help to determine the company's ability perhaps to meet ongoing funding requirements, contribute to long-term projects and pay a dividend.

Using a company’s financial data, allows one to draw up a cash flow forecast. This is an estimate of future figures based on previous data. With our accounting experience we can prepare your company for forecasts of future sales figures, or the likely cash flow into and out of a business. A good business will often have an accountant prepare a cash flow forecast showing the money likely to flow into and out of its bank account in a given period.

The budgeted income statement projects the financial position of a company and is extremely useful for testing whether the projected financial results of a company appear to be reasonable. When used in combination with the budgeted balance sheet, it also reveals scenarios that are not financially supportable (such as acquiring large amounts of debt).

When we have assessed all of this for your company, we can provide recommendations on how to cut the costs of your expenses.

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