For smaller businesses, the regular production of management accounts provides key data on a regular basis rather than waiting until year-end accounts are completed.
This also helps with company budgeting and forecasting. Before management accounts can be produced, the business must have up-to-date accounting records that have been accurately maintained.
Banks and financial institutions often require management accounts in order to make informed decisions against the business’ financial performance to-date.
Completion of Management Accounts is a platform for the year end process, as the majority of work has already been completed throughout the year.
Ledger can provide monthly, quarterly or bi-annual management accounts as required.