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management accounts

to help own­ers under­stand their num­bers and make changes through­out the year

Real-Time Finan­cial Insight for Bet­ter Busi­ness Deci­sions

Year-end accounts tell you where your busi­ness has been. Man­age­ment accounts help you under­stand where it is now and where it is going. At Rus­sell & Rus­sell, we pro­vide man­age­ment account­ing ser­vices that give busi­ness own­ers time­ly, rel­e­vant finan­cial infor­ma­tion through­out the year.

Rather than wait­ing months for your year-end to under­stand per­for­mance, man­age­ment accounts enable you to mon­i­tor results, iden­ti­fy trends, and make informed deci­sions while there is still time to act. Our team at Rus­sell & Rus­sell high­light man­age­ment accounts as a key tool to help own­ers under­stand their num­bers and make changes through­out the year rather than rely­ing on retroac­tive advice.

What Are Man­age­ment Accounts?

Man­age­ment accounts are reg­u­lar finan­cial reports, typ­i­cal­ly pre­pared month­ly or quar­ter­ly, that pro­vide an up-to-date pic­ture of your busi­ness per­for­mance.

They may include:

These are all lag indi­ca­tors i.e., they are the result of some oth­er dri­vers which should also be mea­sured. These are the things which most busi­ness own­ers find eas­i­er to influ­ence. There are hun­dreds of these items, but you should only try to mea­sure and man­age a few that are crit­i­cal to your busi­ness. Some exam­ples would be:

  • How many cus­tomers do I have?
  • How often do they buy from me?
  • What is the aver­age val­ue of each trans­ac­tion?
  • How loy­al are my cus­tomers?
  • How hap­py are my team (employ­ees)?
  • How many refer­rals am I receiv­ing?

The most impor­tant part of our com­pli­ance ser­vices is the prepa­ra­tion of peri­od­ic man­age­ment accounts cou­pled with help­ing you to iden­ti­fy, mea­sure and man­age the Key Per­for­mance Indi­ca­tors which are not sim­ply gen­er­at­ed from your man­age­ment accounts. Mon­i­tor­ing and con­trol­ling the per­for­mance of your busi­ness is of para­mount impor­tance and reg­u­lar man­age­ment infor­ma­tion is vital to the con­tin­ued suc­cess of your busi­ness. We can either car­ry out this func­tion for you or help you set-up inter­nal sys­tems to gen­er­ate the infor­ma­tion.

 

Don’t take our word for it…

Here’s what our clients have to say about our man­age­ment accounts ser­vices: