Outbooks is the perfect solution for businesses who need to keep track of their finances.
Management Accounts - What we do
Management Accounts reports are the lynchpins for decision making processes. Reports need to be crisp, unambiguous, with a laser like focus on the business and customised as per specific operation and scale. At Outbooks, the teams help clients and accountants by identifying and bringing to their notice opportunities and risks, which adds immense value to services.
Management account helps managers within the company to make decisions. They review performance reports to note variance between the actual result from budgets. The primary function of management accounting includes:
- Forecasting the future.
- Make-or-buy decisions.
- Forecasting cash flow.
- Analyzing ROR and understanding performance variance.
- A Profit and Loss Report (P&L) is a report that shows your total Income and your total Expenses in a specific period. It's a useful report as it shows you your net profit (or loss) based on your Income & Expenses, and that can be used to come up with some cost cutting strategies.
- The P&L statement is issued every quarterly and annually along with cash flow and the balance sheet. It provides statement reports on revenue of the company (yearly or quarterly), expenses incurred to generate the revenue, tax and depreciation, and earnings per share number
Outbooks is the perfect solution for businesses who need to keep track of their finances. We provide easy-to-use management accounts
