Management Accounting deals with the provision and presentation of accounting information in a systematic way in order that the figures can be used to make effective management decision in an efficient manner. It is not a statutory requirement, but it can give you a true picture of how your business is performing month-by-month.
Other benefits of Management Accounting are that it can give businesses an indication of changes that need to be made to avoid problems escalating and areas that need attention that were not anticipated. It can also bring to light problems that may have been half-hidden or missed.
By keeping your accounts up-to-date, you will avoid any unwanted ‘surprises’, you will have an early idea of your tax liability and the figures will be readily available when needed.
It could prove very costly to wait until the end of your financial year to find there has been a problem that could have been tackled earlier, so why not speak to SW&A Accountants today and find out more about how we can help?