In addition to year end accounts your business might also benefit from management accounts throughout the year.
The benefits of a selecting Cottons as your management accountant:
- Allows you to look at your business in a more pro-active manner.
- Can help support grants, funding and securities.
- Can identify opportunities for internal savings.
- Allows you to monitor your business through a large period of growth.
- Develops stronger valuation for exit strategies.
- Help show full transparency to potential investors or buyers.
- The advantage of Management Accounts
For many businesses, they may only have contact with their accountants with regards to creating and filing their annual accounts. This kind of financial accounting is all well and good for working out your tax bill and comparing this year’s figures with last. However, imagine having regular access to timely financial information and the impact that would have on your decision making throughout the year, rather than looking back to figures which could be almost a year out of date.
As management accountants, Cottons can be with you every step of the way, providing more up-to-date information and advice that could help you and your decision based on the most recent – as opposed to relying on a snapshot of your accounts and business from months before.
The management accounting service is tailored to your specific requirements and can include face-to-face reviews that allow you to make timely decisions from with regards to your business.
For businesses seeking regular and more current information but not requiring such significant detail, we can also carry out monthly or quarterly figures based on your own computerised record keeping. This service is a more cost-effective option suiting small businesses who perhaps only require information on their tax obligations to ensure that are not taking too much out of the business.