At Borg Galea & Associates, apart from the basic bookkeeping services, we also offer management accounts preparation to private and public organisations. Management accounts are essential to your business as they provide you with key performance indicators on the go. Any anomalies can be captured much earlier and decision making will be based on robust financial information.
Despite their importance, there is no legal obligations for firms to prepare management accounts. Hence, there is no formal format or a ‘one size fits all’ template. This gives business owners the flexibility to tell us what they want to achieve from the management accounts and we will tailor make our service as per your requirements. Our clients usually require the following:
- Monthly or quarterly reporting
- Income insights
- Expenses analysis
- Debtors analysis and management
Fast growing businesses are known to extract as many Key Performance Indicators (KPIs) from their financial reporting to make robust decision and continuously follow up their budgets.