Let Diamond Financial help you prepare your management accounts
There is no legal requirement to keep management accounts but making short term business decisions without them is a huge gamble. Having a clear picture of your company’s financial status at any given time along with accurate forecasts allows you to take calculated risks to give your company the edge over your competitors. Diamond Financial, Chartered Certified Accountants, helping businesses across Scotland, can help you set up a management accounting system to make sure you are always well informed and can stay ahead of the game.
How do we define management accounts?
Whereas financial accounts for a limited company are the retrospective summary of your trading year which must be filed by law, management accounts can be both financial and non-financial and are used for internal decision making purposes only. A good management accountant does more than just compile your cashflow, income & expenditure accounts and balance sheet. He or she will also have a clear understanding of what makes a business tick and can help guide you to make the right business decisions with the information to hand.
For more information on management accounts call Diamond Financial
The team at Diamond Financial are well placed to work with you to help kick start or grow your business, whether it’s a sole trader, partnership or Limited company. We understand the commitment it takes to achieve success and how important management accounts are to help steer your business in the right direction. To find out more call our Edinburgh office on 0131 222 9680, or Duns on 01361 884466, whichever is easiest for you.