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Management Accounts

narkitchernarkitcher Just JoinedRegistered Posts: 2
in AAT Level 4 (Level 8 in Scotland)
If I am asked to prepare a monthly or quarterly management accounts for a company, what do I need and how should I go about it. How should the result look like?

Thanks in advance.

Comments

  • MrPoleaMrPolea Settling In Nicely Registered Posts: 16
    Hi,

    as far as im aware what you need is the trial balance, then run profit and loss sheet with the balance sheet!! this will complete the management a/c's for the month/quarter....
    hope that helps...
  • blobbyhblobbyh Font Of All Knowledge Registered Posts: 2,415
    Well, those are the financial accounts taken care of but you might also want to include cashflow forecasts, projected sales targets plus any other reports that the management might want to see in order to make strategic decisions e.g. obtaining external funding or laying people off.
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