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Management Accounts

MANAGEMENT ACCOUNTS

When running a business it is essential that you monitor the company’s performance on a regular basis. Accurate information is important to enable strategic planning for the future and effective decision making. Good management information enables the directors to make sound business decisions by:

  • Identifying problems before they appear.
  • Monitoring an ongoing project.
  • Comparing actual performance for the period in question to budget figures and identifying causes of any variances.
  • Monitoring a loan and ensuring there is sufficient profit to meet interest payments.