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Management Accounts

Management Accounts.

At Styles & Associates we can prepare management accounts tailored to your business to provide vital insights into your financial health and recognise performance opportunities to assist you in planning for the future. A regular review of your accounts is essential for all businesses large or small to sustain growth and avoid financial obstacles.

The importance of Management Accounts

What are management accounts?

Monthly management accounts are financial reports used by business owners and management teams to help gauge performance, identify trends and form the basis for strategic decision making. Produced on a monthly or quarterly basis management accounts track various key performance indicators (KPI’s) which can highlight potential problems that need addressing before they have a detrimental effect on your business. By identifying issues, you are in the position to take measures and run your business effectively.

Why are management accounts important?

Many small businesses do not have the time to create a set of management accounts and rely on their bank balance as a source of financial information. Your bank balance today might not give you a true indication of your financial situation and fails to include impending outgoings, seasonal changes, global influences and the position of your sales pipeline. Your bank balance doesn’t identify profitability (or lack of it).

Regular management accounts help you to monitor your business performance and adapt accordingly. In order to grow, you need current information on your business - what is working and what is not. Reporting regularly means that you get a clear picture of your current financial position and can react quickly to make changes. By producing monthly or quarterly reports you are in the position of being able to make informed business decisions without waiting until the end of the financial year – which in some cases may be too late.

Challenging circumstances can arise without warning - in the current climate businesses have been forced to adapt and change at a fast pace in order to survive. During the COVID 19 pandemic, businesses have adapted their trading models on a weekly basis. By producing and analysing your data on a regular basis rather than annually, you are able to make decisions based on the very latest data.

In short management accounts are vital for all business to:


  • Grow & expand your market – make informed decisions and recognise trends.

  • Measure performance - provide the basis for reporting KPI’s.

  • React to change – waiting until the year end accounts can mean you miss opportunities and fail to recognise threats.

  • Control cash flow - identify cash-flow problems before they arise.

  • Plan dividends and tax payments - knowing your financial situation before year end allows you identify where you can pay dividends rather than salary - helping you maximise your profits.


Management accounts are not a legal requirement – they are there to help your business and should be tailored to report on the most valuable KPI’s to your business.

Most management accounts will include profit and loss figures, cash flow forecasts and a balance sheet. Your management accounts may include:

  • Executive summary – an ‘at a glance’ summary of the month including turnover, gross margin, operating profit, cash at bank.

  • Cash flow summary – to help you gain control and plan for the future.

  • Profit and loss report – forecasts can be compared to actual figures and should be revised quarterly to reflect your current position.

  • Balance sheet – this identifies your current financial position including assets and liabilities.

  • Control stock levels – know how much cash is currently tied up in stock to help identify and control stock requirements.

  • Reduce end of year accounts cost - information is more likely to be reconciled thereby reducing costs later in the year.

  • Key performance indicators – these will vary to suit your industry and goals.

  • Whilst this information may appear daunting, at Styles & Associates we can present and interpret the data to help you evaluate your financial health, crucial when it comes to creating a budget and making vital investment decisions.

Subtle Shapes Transparent

What should your management accounts contain?

  • Business owners/managers

  • Investors

  • Banks/lenders

  • Factoring/invoice discounting

  • Accountants

  • Financial advisors/Tax planners

Who uses management accounts?

Management Accounts Meeting

What will your accountant use to produce management accounts?

  • Bank reconciliation

  • Reconciliation of VAT

  • Reconciliation of PAYE & wages

  • Up to date debtor information

  • Up to date creditor information

  • Stock and work in progress

  • Accruals & prepayments

  •  Depreciation


Monthly management accounting reporting.

Management account reports offer business owners the opportunity to monitor their financial position and identify its strengths and weaknesses. They can highlight early warning signs and provide insights to allow you to make informed business decisions based on current data, and ultimately help your business grow.


At Styles & Associates we can produce monthly or quarterly management accounting reports tailored to your business. To discuss your requirements call us today on to arrange a free consultation: 01420 541 554.

Management accounting for business.

We welcome new enquiries for accountancy services for small businesses to large corporations, sole traders and partnerships.

Free Consultation

Free consultation.

When you contact us, we will provide you with a free consultation to identify and discuss your requirements and create a bespoke set of reports for you.


At our Hampshire offices our experienced  team will inform you of what we can do to help your small business grow. 

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