Preparing Management Accounts

This course has been designed to provide you with the knowledge and skills to prepare management accounts.  Give an understanding of how and why management accounts can improve business performance. Identify the steps to take and the accounting adjustments required.

Provide the skills to analyse, understand and communicate the findings confidently and effectively with business owners and senior management

You will learn the fundamental principles of how to prepare management accounts. The process will be demystified with simple steps to administer the process.  You will learn how to post accounting adjustments, including prepayments, accruals and depreciation and how to complete balance sheet reconciliations.

Finally, you will be given the principles of effective analyses and presentation of the data to provide useful information to monitor and control performance, resulting in the efficient running, survival and success of your business.

This course features a series of interactive discussions and case studies to give you practical solutions to everyday challenges facing those who prepare regular management accounts.

By the end of the training, you will be able to:

• Appreciate the impact accurate and timely financial information can have on the success of your business.
• Know where to start and the steps to take to review your accounting data to ensure accuracy
• Identify and post accounting adjustments, including prepayments, accural and depreciation
• Preform balance sheets reconciliations
• Prepare, present, analyze and interpret a Profit and Loss account, Balance Sheet and Cash Flow Forecast.
• Calculate and present comparisons and variances.
• Explain and present the findings and offer recommendations