Management Accounts

In addition to the annual accounts, many banks require monthly management accounts, either to support the existing overdraft facility or in support of your request for additional funding for expansion or working capital. This can place a huge strain on already scarce resources. At N. K. Ting & Co. we can handle this extra demand for you, easing your burden and freeing you up your time which you can better spent in managing your business. The management accounts prepared by an independent accountant carry more credence with the lenders.

Management accounts can provide an up to date overview of the performance of your business, identify areas for growth and improvement, enable you to better manage your resources, evaluate the effect of implemented strategies and plans and assist with budgeting comparisons. This can be especially helpful to a new business in the early stages.

Preparation of management accounts can be time-consuming. Often businesses can not spare resources in times when their businesses are flourishing, and the resources can by best used to expand the business. With the expansion, the working capital requirement increases and often the businesses require additional funding from their banks to supplement additional demand of working capital.

N. K. Ting & Co. can provide help at this crucial stage by preparing management accounts along with financial forecast to help businesses to achieve their objectives.

• Identify areas for growth and improvement.
• Enable you to better manage your resources.
• Evaluate the effect of implemented strategies.