Management accounts – the profit and loss account basic format

The format of the management accounts is tailored to suit your business. There are no rigid formats to follow unlike the statutory accounts. Preparation is eased if the general ledger is set up along the lines of the format of the management accounts. In addition if there are separate departments within the business, costs are […]

Cash flow forecasting and why it is important

These two articles show why cash flow forecasting is important in running a business. The first is “The Benefits of Cash Flow Forecasting” and shows why cash flow forecasting is a really useful tool for your business: http://www.connector.barclays.co.uk/article/The-benefits-of-cashflow-forecasting/143?cid=eml-rr-pro-060220141222219. The second is “The Ten Cash Commandments” and this shows why businesses fail if they do not […]