Management Accounts

If you run a simple business where revenue and costs are consistent throughout the year and also year on year, you are well placed to judge the profitability of your business and it is unlikely you will need help to prepare Interim Management Accounts.

However, if overheads are difficult to keep track of, your business is going through a period of rapid expansion or specific areas need monitoring, then periodic reviews need to be carried out during the year.

Management information systems do not need to be particularly sophisticated but, sadly, many businesses fail to produce even the simplest of reports on a regular basis that would provide key indicators of how their business is performing.