Management Accounting Support
What is a managed account?
Although there is no legal requirement to create a managed account, it is difficult to effectively run a business without one. Hence, most companies do it monthly or quarterly. The purpose of management accounts is to analyze recent past performance and typically include future items such as sales, cash flow, and profit projections. The analysis is typically compared to forecasts and budgets made at the beginning of the year.
While one of the purposes of management accounting is to provide accurate information to identify the company’s key performance areas, there are other reasons to keep it.
For example:
- Understanding company behavior and performance
- Shape your business with evidence-based advice and guidance
- Allow cash flow forecast
- Disclose margins, costs, and break-even points to make informed financial decisions
- Reveal areas of underperforming or underperforming companies
Using DNS-managed account services is simple and inexpensive. First, we get your online accounting portal up and running – don’t worry, we offer assistance at every step – once set up, DNS will have access to real-time information about your company’s performance. From there we can start formulating your management account.
For example, you might want to explore non-profit business areas and what you can do with them. Perhaps you want to attract investment, secure loans, or expand your business in other markets. We can customize your manager account to suit your needs.
Many small businesses don’t realize that running a business without a manager is like driving a car without brakes or gas. Without a manager account, you cannot have full control of your business. Management needs to identify key performance indicators (KPIs) so that key decision-makers have full control.
A manager account helps a company make timely and meaningful business decisions. There are several reasons why so many businesses fail within the first year of launch, but often the key to business failure is a lack of knowledge of the current market, a lack of a clear business strategy, and minimal financial understanding.
DNS recognizes the importance of managing accounts and supports customers by providing a variety of management reports, including income, liabilities, and taxes.
With the help of management reports, management can make informed decisions and shape the right future for the company.
DNS is a specialist in designing and implementing management reporting systems. If your business would like this system, please indicate so on the subscription form or call us today. A member of the Oreqo team will be happy to advise you.
Looking for something more?
Oreqo is used to offer tailored service packages, so please contact us, we can certainly help!