Budgets and Forecasts
Help you plan and forecast revenue and outgoings across different areas of the business, to give you an up to date and informed insight on which to base business decisions. Then, we can look back and compare the reality of spending against the forecast, providing us with the knowledge to help plan future steps.
Just as you would expect of an inhouse management accountant, I can provide monthly and quarterly management accounts. These reports give you an up to date view on your finances, business performance and budgets. We’ll give you a comparative view against the position we aim for as well as previous years’ performance. Knowledge is power, and you’ll wonder how you ever did business without management accounts!
Management accounts are designed to show business owners and managers exactly what is happening in the business, providing the information required for informed decisions to be made by you.
Cash Flow Management
Cash flow is the life blood of all businesses and is the primary indicator of business health. It is generally acknowledged as the single most pressing concern of most small and medium sized businesses. In the present difficult economy where access to funds is restricted and difficult, cash management is critical to survival.
Basically cash flow is the movement of money in and out of your business; it is not profit and loss although trading performance will have an impact on cash flow. Cash flow is real and must be monitored and controlled.
Cash flow management is about balancing the cash coming into the business with the cash going out. The danger is that demands for cash can arrive before the cash you are owed is collected. If your business is trading profitably then you would expect that more money is put back into the business than is taken out. This is not necessarily the case and if you do not carefully monitor cash flow and take corrective action when necessary your business may find itself in trouble.
Cash flow management is a vital business process and should form an integral part of your business management structure. To manage cash flow effectively requires information on key elements of your business.