You look at your bank statements on a regular basis. You keep an eye on monthly sales targets. You know how hard your staff are working. You see your accountant once a year. Are you sure the direction youâ€™re following will get you to the finish line?
Management accounting is all about using that information on a real-time basis, so that you are provided with the data you need to make informed business decisions each month. Being better equipped means greater control.
Key performance indicators identify exactly where your business is in the game, from profit and cash flow forecasts, sales functioning and process improvement. Each month you can see where youâ€™ve travelled and where youâ€™re still heading that year.
Which means you can forecast and solve problems quickly. Your team become more motivated and productive. Thereâ€™s less waste and more profit. You create a company that doesnâ€™t just splash about in the water but has purpose, direction and drive.
Kim Marlor Associates – coaching the management of all areas of business performance.
Kim Marlor Associates – Chartered Management Accountants.
Kim Marlor Associates Limited Registered Address: Suite 3 Ground Floor, Progress House, 17 Cecil Road, Hale, Altrincham, Cheshire, WA15 9NZ
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