Do you have a profitable business? Are you aware of how well your different products or services are selling? By preparing management accounts at regular intervals, we can answer these questions and help you keep your finger on the pulse of your operations.
Here’s the thing: Annual accounts are due nine months after your year-end, so the information in them is almost obsolete for making decisions, by the time any important deadline comes around.
But what else can you do with those numbers in the meantime? Have you got a successful revenue model but no cash in the bank? Are you meeting your sales and operational targets? Do you even have sales and operational targets?!
Management accounts aim to provide regular, current financial information about your company’s activities. At BBK Accounts, we offer a range of services, from monitoring critical Key Performance Indicators (KPIs) to regularly preparing detailed analyses.
We provide insights showing you how you are performing against your expenditure, income, profit expectations, and pretty much anything else you want to track.
Running a business is tough enough without having to guess where you stand financially. Not when you have us by your side. Here’s what our services include:
We understand that different industries have unique needs. Naturally, you want to work with an accountant in Southampton who understands your world.
In the construction industry, staying on top of your financial performance is crucial. Regular management accounts and key performance indicators (KPIs) provide valuable insights into your business’s health. Our services include the preparation of detailed management accounts and the tracking of relevant KPIs, such as project profitability, cost control, and cash flow management. By regularly reviewing these metrics, you can make informed decisions, identify areas for improvement, and ensure each project remains on budget and on schedule. This proactive approach helps you maintain financial stability and drive your business toward long-term success.
Managing multiple properties comes with its own set of financial complexities. Regular management accounts are essential for providing a comprehensive view of your rental income, expenses, and overall profitability. Our services help you track key metrics such as occupancy rates, maintenance costs, and cash flow from each property. With these insights, you can make informed decisions about property investments, optimise rental income, and ensure all expenses are accurately recorded and claimed. Regular management accounts also help you set aside the right amount for taxes, ensuring compliance and financial readiness. This proactive financial management supports the long-term success of your property portfolio.
For professionals in IT, marketing, HR, cybersecurity, and other sectors, staying on top of your finances is essential for sustaining and growing your business. Our management accounting services allow you to monitor key metrics such as revenue per client, project costs, and overall financial health. With this information at your fingertips, you can make informed decisions, optimise your services, and plan for future growth. Regular management accounts also aid in setting aside the correct amount for taxes, ensuring you remain compliant and financially prepared.
With BBK Accounts, you’ll always be in control. Here’s why:
Unlike the statutory accounts required by the government, our management accounts focus on what matters to you: your KPIs, balance sheets, profit and loss statements, and executive summaries. Whether planning for growth or to secure a loan, our reports are customised to support your goals.
Tired of spending hours manually generating reports? No more wasting time! We’ll streamline the process with intuitive cloud-based software, making it quick and easy to access your financial data in real-time. Have the important numbers at your fingertips!
With us, you’ll get personalised service and a touch of humour to brighten your day. No call centres or faceless customer service, just our expert team who you can talk to when you need help and to discuss your management reports in more detail.
At BBK Accounts, we understand that one size doesn’t fit all. We tailor our management accounts services to adapt to your changing business needs, providing advice and guidance as needed. Whether you’re a small startup or an established SME, we’re with you 100%.
Since working with BBK Accounts, we’ve seen a marked improvement in how we manage project costs and keep a closer eye on expenses, ensuring we stay within budget, which has had a direct impact on our bottom line. What I appreciate most is their personalised service—they genuinely understand the unique challenges of the construction industry and are invested in our success.
I've been with BBK for three years, and I couldn't be happier with their service. Their receipt scanning app makes managing my accounts a breeze, and I always know my tax liabilities well before payment is due. It really takes the hassle out of accounting!
I have ben using BBK for many years now and have been really impressed with Jenny and the whole team. Happy to answer simple and more complicated questions and really reasonable prices too! Highly recommended.
She (Jenny) was looking after my accounts for several years before I joined the partnership. I am now going back to her to get the excellent personalised service I had from her.
This (the UK tax system) really is all quite confusing to me. I am so pleased BBK is there to guide me through this.
Filing my personal tax returns used to be a daunting task, but BBK Accounts has made it so much easier. They handle all the details and ensure that everything is filed correctly and on time, saving me both time and worry.
Financial accounting and management accounting deal with financial data but have different purposes and audiences. Financial accounting focuses on creating financial statements (e.g., income statements, balance sheets, and cash flow statements) for external stakeholders such as investors, creditors, and regulatory bodies.
On the other hand, management accounting is aimed at internal stakeholders, providing detailed financial insights for business managers and executives. It involves budgeting, forecasting, performance analysis, and cost management to support a company’s day-to-day decision-making and strategic planning.
Yes, management accounts are invaluable tools for budgeting and forecasting. They provide a detailed view of your financial performance, including revenue, expenses, and cash flow, which can be used to create realistic budgets and forecasts. By regularly comparing actual performance against your budget or forecast, management accounts help identify variances, allowing you to adjust your strategy proactively. This process supports better financial planning and helps ensure your business stays on track to meet its financial objectives.
Management accounts are typically prepared on a monthly or quarterly basis, depending on the needs of your business. Regular preparation allows you to closely monitor your financial performance, make informed decisions, and respond quickly to any issues. Monthly management accounts are ideal for businesses that need up-to-date insights to stay agile, while quarterly reports may suffice for those with more stable operations. The frequency should align with your business goals and how closely you need to track your financial health.
You’ll get clear, detailed, and timely reports, making your finances easier to understand. Expect better cash flow management through accurate forecasting and improved decision-making with in-depth performance analysis. We’ll also help you spot cost-saving opportunities and ensure you budget effectively for liabilities. In short, management accounting gives you the tools and information you need to run your business more efficiently and profitably.
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