Management accounts are vital to the continued success of your business since:
- Year-end financials prepared many months after the year-end are absolutely useless in managing the financial side of a business - they are just history and useful only for the IRD.
- There is a strong link between business survival and the frequency of accounting reports:
| Frequency |
Survival Rate |
| At least monthly |
80% |
| Quarterly |
72% |
| Half-yearly |
50% |
| Annually |
36% |
Most business owners are too busy on their day-to-day business operations or just don’t have the skills or resources to prepare these themselves, let alone interpret the results. At the Accountancy + Business Advice Centre we can provide you with customised and constructive management reporting and advice as regularly as suits you, from six-monthly interim figures to daily profitability analysis.
