Your accountant and book keeper will provide you with financial accounts. Financial accounting is the reporting of the financial position and performance of a business through financial statements issued to external users. This will include VAT returns, corporation tax calculations and year end accounts. This information is of limited use for controlling your business
Management accounting is the process of preparing management reports and accounts that provide accurate and timely financial and statistical information required by managers to make day-to-day and short-term decisions.
We understand that small business owners have limited time for managing their accounts. We have therefore created a quick and easy accounting programme which will provide the information you require to make immediate informed decisions on how your business should be run;
It is a five point plan
1. Create a 12 Month Forecast of all revenues and costs
2. Trade over one month so that actual revenues and costs can be calculated
3. Compare the original forecast with the actual trading figures
4. Adjust the forecast to reflect the information obtained from the actual trading figures
5. Review the results to see if adjustments to costs, revenues or overdraft facilities are required
We would visit you twice; firstly to set up the program with your forecasted figures and secondly after one months actual trading so that one period can be rolled over. After this you can run the program to the end of the 12 months at no further cost. We will always be available however if help is required.
The initial cost is dependent on the amount of time taken to set up the program on site plus any travel costs but starts at £200.00 ex VAT. The licence fee is £195.00 P.A. ex VAT.
Management Accounting Presentation