What is Management Accounting?
Management Accounting is separate to financial accounting, in that it provides your business or organisation with up to date management accounting reports that you can use to make well-informed business decisions. Much of Management Accounting focuses on the analysis of financial and non-financial data, and how this data is acquired and analysed.
Why you need a Management Accountant?
As a business owner or business manager, you are faced with countless decisions every business day. Besides that, you will require accurate, timely, and reliable information to support business's or organisation's day to day operations.
With this in mind, it is important to understand:
- How a Management Accountant can benefit your decision-making process; and
- How a Management Accountant can improve your decision-making over the long term.
There will always be a need for meaningful, accurate and relevant information purely for decision-making purposes. For this reason, engaging the services of a Management Accountant can help business owners and business managers to make the right decisions.
To put this another way, a Management Accountant's services can play a significant role in the decision-making process of any business or organisation.
Why Choose Singh Accountants?
When choosing Singh Accountants, you will be confident in the knowledge that:
- We have designed analytical tools and management reporting templates that provide more useful information than present traditional accounting financial statements;
- Our Management Accountant has the experience and knowledge to provide you cash flow projections and profit forecasts to help you in moving your business forward;
- Our Management Accountant will provide you with an understanding of the key cost drivers and profit contributors of your business or organisation; and
- Our Management Accountant can tell you which product, service that made sense before, no longer makes sense now or will in the future.
Accurate Analysis of Data and Information
Our Management Accounting Service provides you with:
- Sound reliable and accurate analysis of your business's or organisation's financial and non-financial data and equally important, our interpretation of the results;
- Information that can help you make better well-informed decisions; and
- Solutions that can help you in achieving the strategic goals your business or organisation needs to move it forward.
Management Accounting provides a valuable tool on which you the business owner or business manager can manage your business or organisation more effectively. Furthermore, it allows you to:
- Make decisions based on the data provided and analysed;
- Understand the financial trading position of your business or organisation; and
Focus on key business areas such as sales and costs.