Creations · South Africa
Management accounts that explain the reporting period
Turn accounting records into reports for decisions about performance, cash and commitments. Define the measures and reporting frequency your business needs.
What the work covers
Use this scope to identify what you need. Your proposal will confirm the services, records, reporting frequency and fees for your business.
- Income statement and balance sheet for the agreed period
- Cash movement and working-capital reporting where scoped
- Budget or prior-period comparisons
- Supporting schedules for material balances
- Commentary on exceptions and significant movements
What to prepare
Tell us which records are available and where there are gaps. We can then distinguish ongoing work from any initial catch-up.
- Current trial balance and reconciliations
- Budget and comparative reporting periods
- Debtor, creditor, payroll and asset schedules
- Information about unusual transactions and management adjustments
Timing and responsibility
Timing depends on the records, approvals and work required. Tell us about any deadline at the start. The engagement should identify the person handling your work, the review responsibilities and any external specialist needed.
Choose measures that lead to decisions
Start with the questions management needs to answer. A project business may need job margins and work in progress; a service firm may need billing, debtor days and staff costs. Agree definitions so comparisons remain consistent between periods.
Make limitations visible
A report based on incomplete records should identify the affected balances and assumptions. Management accounts support internal decisions; they are not an audit opinion or a substitute for statutory financial statements.
How the work progresses
- 01
Review the requirement
Identify the entity, reporting period, records and deadline.
- 02
Agree the scope
Set the outputs, responsibilities, fees and approval process.
- 03
Prepare and resolve
Work through the records and raise missing information or decisions.
- 04
Review and hand over
Complete the agreed approvals and retain the outputs and outstanding actions.
Questions before you start
Can the pack follow our board format?
Share the current pack and the decisions it supports. Its measures, source data and preparation responsibilities can be assessed as part of the scope.
Can you explain a difference between profit and cash?
Yes. Reconcile the movements in debtors, creditors, assets, financing and other balances to identify where cash changed.
Let’s define the next step.
Tell us what you need, what is outstanding and when it matters.