Often the financial information that owner managed businesses receive is inadequate, received on an irregular basis or too late to allow proactive decision making.
If you have external lenders including your bank, it can be difficult to build a good relationship with them without credible management accounts and in the case of venture capitalists management accounts may be necessary to prove compliance with any financial covenants.
At Beyond Measure we view timely, accurate management accounts as an essential management tool which will allow you to track progress towards your business goals. We can prepare management accounts on a monthly or quarterly basis. We will then compare these accounts to your forecasts / business plan and prepare a report for discussion with you analysing the variances (if any) from the forecast. Beyond Measure can then revise your forecasts to show the impact of the actual results on the longer term position of the business and suggest any necessary remedial action to ensure you remain on target.
By getting this information in a timeframe that allows you to react quickly, you can make business decisions before any major issues become a real threat to the business.