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Management Accounting

Management accounts are the all-important numbers to show you how your business is performing.

What are management accounts and what can I get out of them?

Management accountants apply their experience, skills and techniques to identify accounting inaccuracies and issues. As well as add value and context to those numbers.  Our Managed Services team have the required experience and expertise to deliver those management account to you quickly and efficiently, when they matter most.

Without reliable management accounts you cannot answer the three key questions, essential for running and growing your business:

  • Where have we been?
  • Where are we now?
  • Where are we going?

We can help you drive decisions by providing financial information in:

  • Evaluating business performance
  • Specific products
  • Production
  • Departments
  • Choosing areas of operational focus

Management accounts should not be viewed in isolation and can form part of a wider pack of management information for your business.

How does management accounting differ from bookkeeping?

Bookkeeping is the recording of the initial raw accounting data. Good bookkeeping is the essential starting point in the production of management accounts but not the end of it.
When the bookkeeping work is done, the management accounts production and analysis of the numbers begins.

Common management accounts adjustments such as accruals and prepayments can dramatically change the view of your business finances and give a far more accurate view of your business trading position.

I already prepare management accounts, so why do I need Clive Owen LLP?

Even if your business prepares management accounts we often find that a third party and independent and objective review from us gives credibility to the numbers and gives confidence to you as business owners and provides re-assurance to stakeholders alike.

We can work in partnership with your finance department, helping to review and support your current situation. Our experts will review your management accounts. Equally, we can provide advice on the current position and also offer ides on how the presentation can help make better informed decisions.

We can provide accurate financial information, helping assist you in generating new opportunities.

For example:

  • Funding applications
  • Grant applications
  • R&D claims
  • Patent box
  • Additional strategies

With our Finance Officer Services we can also provide you with a full commentary of:

  • A summary of the main issues
  • Our observations of financial areas of uncertainty
  • Risks to the business
  • Compliance failures

Additionally, as a business owner, this offers you the maximum chance to mitigate those risks and act on a timely basis.

Phone

CALL US 01325 349700

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