How to Analyse Management Accounts (and Actually Use Them to Make Better Decisions)

[ratiobox]

What Management Accounts usually include
What to Look for When You Analyse Them

 

[Ozzy]

This is a wide topic. I suggest you book an appointment with your accountant and spend time with them to walk you through what MI structure and presentation works for you.

Avoid whizzy tools, gadgets and AI bots as a starter point, spend time with someone who will listen to you, understand what works for you, and then work with that person (accountant) in building a format that will present you the information relevant for your business.

 

[Lisa Thomas]

Maybe start at watching some explanation videos on Youtube.

 

[Ozzy]

Watching YT videos may help some with specifics, like what is a Balance Sheet for example @Lisa Thomas , but I am a firm believer that nothing beats spending time with an expert face to face for that expert to truly understand what kind of learner a person is. For example does a table fo data work for this person or a pie chart, etc, and then working together to build an management information pack that is right for that person with only relevant data (KPI's) relevant for that persons business.

The problem with many wizards online and one size fits all products online today is that are mass market, and don't really lean specifically to an individual business.

 

[fisicx]

@ratiobox is an accounting company. Closing this thread