Management accounts

What are management accounts?

Management accounts are a monthly or quarterly set of accounts which provide an ongoing, up-to-date report on a company’s financial performance. Along with cash flow forecasts, these reports provide managers and directors with vital tools to assist with business planning, investment and cost management.

Why does a business need management accounts?

Timely financial reporting allows a business to review its recent performance and to use that information to recognise key areas on which to improve and make savings, set new revenue and cost targets and to identify new investment opportunities.

How can Downham Associates help?

The preparation of management accounts provides a business with vital information regarding ongoing financial performance and our experienced team of accountants can assist your business to set up this reporting function. Having up-to-date figures allows a business to make better-informed and quicker decisions regarding revenue growth and cost saving, thereby maximising profitability.

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