Management Accounting

By: TW Accounting Services (Chartered Management Accountant)  28/10/2014
Keywords: financial management, Performance Management, corporate accounting

Management Accounts are the regular (usually monthly or quarterly) reviews of business activity against plan (Budgets). These reviews are invaluable to a business as they can help to predict problems before they occur. Trends can be identified in growing costs or reducing sales levels and actions can be taken to reverse those trends before they become detrimental to the business. Management Accounts and Budgets can be prepared down to department or branch level, showing performance against plan for individual areas of your business. This can be of benefit as an individual area of the business may be performing badly but it is hidden within an overall business performing well. We at TW Accounting Services can prepare regular Management Accounting reports for your business and meet with you and explain our findings, this allows you to take action early when a problem is identified.

Keywords: corporate accounting, financial management, management accounting, Management Accounts, performance appraisal, Performance Management

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