Management Accounting and Reporting
Management accounting is the information that makes business run. Here are some questions that are answered by management accounting:
- What are sales by profit center?
- What are the profit margins for each profit center?
- What is the proper inventory level for an item or a group of items?
- What is the return on investment for a new product line or service offering?
We work with a business to identify important aspects of that specific business and then set up the accounting system to report on that information. After an accounting system is set up properly, many reports can be generated directly from the accounting system. In other cases, we use a report writer that sits on top of the accounting system to pull the data from it.
After we have properly set up the management reporting, we then are available to dialog with management about what the information is meaning.
Running a business is not easy. Management accounting and reporting is a key component to getting good information that to help run the business better and more efficiently.
Contact us to discuss how we can help set up a better management accounting system or improve on what you have now.