Management accounts are financial reports produced for the business owners and managers, generally monthly or quarterly, normally a Profit & Loss report and a Balance Sheet. In principle they are similar to Year End accounts but are less formal and are personalised to the user’s requirements.

Management accounts are a type of financial report, providing insight on the financial performance of your business. They’re called management accounts because they’re typically used by business owners and management to inform strategic decision making.

What are management accounts? Management accounts form a financial report used by business owners and management for day-to-day and strategic decision making. They are produced, usually, on a monthly or quarterly basis, and provide insight into the current financial health of a business by tracking various key performance indicators.

Management accounts are a set of financial statements prepared either monthly or quarterly, which provide clear insight into the financial trading position of your business.