Management Accounts

FAQ

What's included in Management Accounts?

Management Accounts include a Balance Sheet and Profit and Loss account and a break down of the key financial drivers of a business, such as analyses of sales and costs.

Each business is different however, and we will work with you to provide a Management Accounts pack that is specific to you.

We will establish a set of Key Performance Indicators (KPIs) that can be used to judge business performance and which are relevant to your management requirements.

Typically these would focus on profitability, productivity, customer satisfaction, marketing success and performance against planned performance.

Regular monitoring of KPIs provide a valuable tool for managers to understand their businesses better, highlighting areas of both weakness and strength and leading management to see opportunities for greater efficiencies and future growth.

How frequently do I need a set of Management Accounts?

Management Accounts are compiled on a Monthly or Quarterly basis dependent on the size and complexity of each business, and the requirements of management.

What data do you need?

The greater detail you can provide, the better quality the management information. We can help you analyse what is available and can suggest ways in which you can capture additional metrics at minimal additional cost.

We can take data from multiple systems, from EPOS systems, account ledgers, stock control systems and other key platforms you use to run your business and produce the timely and insightful reports that you need to see the fullest picture possible of your business.

Monitoring and understanding the key aspects of your business is vital to making the right management decisions.

A good set of Management Accounts enables you to do this by providing regular updates on the performance of the business and insights into the strengths and weaknesses of the company.

At Munro we take the time to understand your business and your aims. We work with you to define the key metrics you need to manage your business - breaking down sales, costs and profitability to provide insight into how your business functions and giving you the information you need to take well-informed management decisions.

Our Management Accounts team aim to provide you with:

Clear Insights

Management Accounts help you see what is working and what is not, allowing you to prioritise your efforts, understand your strengths and weaknesses as an organisation and to capitalise on opportunities.

With in-depth knowledge of your business and up to date knowledge of trends and developments affecting your industry, we provide the advice you need to manage and grow.

Clear Communication

We set up a clear Dashboard of Key Performance Indicators (KPIs) that allow you to see the key information regarding performance at a glance, giving you a clear picture of the business and easy to compare figures.

Flexible Support

We assign a dedicated team to you - people you can call or email any time to discuss any aspect of your business and who are always happy to attend face to face meetings to answer questions and provide advice.

Continual Improvement

By understanding your business we can offer the guidance you need to progress. As your business changes and grows, we update and refine the Management Accounting service we offer to ensure you have access to the right information and advice to allow you to plan and manage changes.

Scenario Management

By understanding the key drivers of your business, we help answer some of the vital questions you need to find answers to:

How can I better manage cash flow?
How can we improve profitability?
How can we minimise tax liabilities?
Which products sell better than others?
What is the best pricing strategy?
Are my marketing efforts working?
Is a new process saving money?
Where should I invest?
What opportunities for growth are there?
Which areas of the business need improvement?
Who are my top performing staff members?
Am I on track to meet my budgets?
What would be the likely impacts of a change I'm considering?
Should I take on debt to finance expansion?

Flexible Pricing

You can decide on what suits your business requirements and what helps you manage your company most efficiently. We will provide clear pricing and you can choose the level and frequency of reporting you'd like and which fits within your budget and adjust this as you go.