The focus in everyday accounting is keeping the books tidy, paying suppliers, ensuring customers pay you and that you have enough working capital to keep your business moving. Year-end requirements mean that annual accounts must be produced and filed. But what happens after you’ve done this, or indeed throughout the year with your beautifully prepared accounts?
These documents are a mine of useful data for the easily pleased management accountant who loves to crunch numbers to extract relevant information to help you to drive your business forwards into growing and developing more than you could have even imagined.
Quarterly reviews of the profit and loss situation enable any abnormalities to be signalled up and any trends appearing to be quickly identified and exploited or eliminated as appropriate. Action can be taken sooner rather than later to avoid getting into huge profits or losses unexpectedly at year-end. Forecasting, budgeting, cash flow planning and margins are just a few tools used by your friendly management accountant to assess the health and growth of your company.
Another technique which can aid your business is the creation of scorecards personally designed to identify key performance indicators and areas of particular concern. Analysis is always at the heart of a management accountant, analysis that leads to understanding and strategic planning for the future. Cost/benefit, net present value, profit margins, costings, pricing, deciding which options are best …
These documents are a mine of useful data for the easily pleased management accountant who loves to crunch numbers to extract relevant information to help you to drive your business forwards into growing and developing more than you could have even imagined.
Quarterly reviews of the profit and loss situation enable any abnormalities to be signalled up and any trends appearing to be quickly identified and exploited or eliminated as appropriate. Action can be taken sooner rather than later to avoid getting into huge profits or losses unexpectedly at year-end. Forecasting, budgeting, cash flow planning and margins are just a few tools used by your friendly management accountant to assess the health and growth of your company.
Another technique which can aid your business is the creation of scorecards personally designed to identify key performance indicators and areas of particular concern. Analysis is always at the heart of a management accountant, analysis that leads to understanding and strategic planning for the future. Cost/benefit, net present value, profit margins, costings, pricing, deciding which options are best …
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