Management accounts are a set of financial statements typically prepared monthly or fortnightly.  Management accounts include a profit and loss, balance sheet and cash flow forecast as well as any other information deemed necessary to make business decisions such as:

Overall a set of management accounts should give business managers an up to date view of how the business is performing, alert them to any potential financial problems and enable them to make strategic decisions in line with business goals.

4 ways to strengthen your balance sheet your balance sheet matters what is the purpose of a balance sheet

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