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Management Accounts

Once you have your bookkeeping in order, you may want to think about how to use the information to help manage your business. 

Sure, you need proper books and records for regulatory purposes. However, you can also use management accounts to check your financial health - what is working for you, and where you might want to focus your efforts in the future.

Measure resultsMeasure results

 

Artisan Accountant can provide the help you need, as often as you need - whether monthly, quarterly or on an ad hoc basis...

  • Profit & Loss and Balance Sheet
  • Cashflow
  • Key Performance Indicators (KPIs)

A good picture, drawn from the raw data, will show you what you need to see, to effectively manage your business.

 

Profit & Loss Account and Balance Sheet

You will want to know, of course, whether the business is profitable. Are your revenues greater than your costs and expenses, resulting in a profit? You will need to produce accounts at yearend but it is important to get a picture of your financial health throughout the year too.

I can work with you to determine the right frequency of the reports - monthly, quarterly or on request. I will meet with you and discuss what the figures mean to your business.

Regular up-to-date profit & loss accounts and balance sheets will allow you to make the right decisions.

 

Cashflow Analysis to Keep Ahead of Your Bills

"Cash is king" as the saying goes... cash is extremely important to your business as how else will you pay your bills and stay afloat? Unfortunately, historic sources of funding such as a bank overdraft may not be available anymore.

We can do a detailed cashflow analysis to determine what your cash inflows and cash outflows will be, and whether you have enough cash when you need it to pay your bills.

If there is a delay, the analysis can help you to access the funding required until you receive payment. A lender will want to see that you have the ability to repay.

 

Variance Analysis to Compare Planned Versus Actual

Planning ahead can help you control costs and manage your business throughout the year. You may or may not meet your budget and it is important to not only measure any divergence but to have a good understanding as to why it happened.

Every business is different and have different management accounts requirements. We can work with you to determine the key metrics that are relevant to your business. We can agree the Key Performance Indicators (KPIs) beforehand and measure and track the progress against targets.

A variance analysis will identify any differences and help you understand why they happened... use this knowledge to drive your business forward.

 

Management Accounts Decision Making

Accurate management accounts and information, at your fingertips, will allow informed decision making.

I can produce the information for you or provide training so that you can produce the information yourself. Tailored reports, specifically for your business, will give you the confidence to drive your business forward.

If you would like more information about these services please call me on +353-(0)87-689-6211 or email frances@artisanaccountant.ie.