Management Accounts service in Essex & Beyond

Management Accounting

At PBATS we have many clients who use this service.

In most cases we prepare the profit and loss, balance sheet and cash flow reports, along with analysis of key financial aspects of a business, depending on what industry they operate in.

This information is a tool to identify financial strengths, weaknesses, opportunities and threats and we have regular in person and / or video calls to discuss these in detail to ensure the business is operating at it’s very best financially.

We also take the time to understand the personal and business ambitions of directors / shareholders to add true value as a business confidant and tax advisor. This understanding is not cultivated by providing lists of numbers each month alone, it is the regular clear communication around these numbers that is key to us providing a superior value added service.

Do you need Management Accounts services?

Benefits of Management Accounts

This service is a key tool for growth and success in any business.

Whilst most business owners will be familiar with the requirement to file annual statutory accounts with Companies house, they will not necessarily be familiar with the benefits of preparing regular management accounts and the insight and value they can add to their business.

Decision Making aligned to strategic goals

In contrast to statutory accounts, management accounts can be tailored more closely to your business needs, offering relevant and timely information to managers and stakeholders to aid decision making. Management accounts can be used to aid both financial and non-financial strategic decision making.

Lending

Lenders often require management accounts as part of their lending evaluation process. Many lenders also require management accounts as part of their ongoing monitoring process and management accounts are an indicator that the business is able to service its debt.

Forecasting and budgets

Management accounts do not just focus on historical information either, they are also a great tool for forecasting future performance, which is essential when planning allocation of resources and evaluating whether you can achieve your long-term strategic goals.

Tax planning both Company and Personal

Management accounts can aid tax planning, both on a Company and Personal level.

Compliance aid/risk reduction

Management accounts can also help your business prepare for year-end procedures and may help to highlight compliance breaches, reduce risks and ultimately save costs.

Directors Duties

In the event that things do not go to plan and the business enters into an insolvency process, management accounts are also a great way to demonstrate that the directors were fully appraised of the financial position of the company at all times and complied with their fiduciary duties.

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