Management and Year-End Accounting
Frequent and prompt management accounts will enable you to track your organisation’s performance. It’s vital that you measure your planned financial performance with actual results and use the results to take corrective action, if required. Out-of-date financial reporting has limited use in businesses that operate in dynamic or fast-moving environments.
Successful business entrepreneurs predict what will happen next, not what happened last year. Interpreting your financial numbers to recognise trends is as important as the numbers themselves. They assist to improve planning and decision-making.