Andrew Grantham

The importance of management accounts

The objective of management accounts is simply to provide small business owners with key financial and statistical information in a timely manner, which can assist them in making effective day-to-day business decisions.

Management accounts generally consist of a profit & loss account and a balance sheet, which form a management pack:

Are your suppliers about to throw your business on the bonfire?

With the year end fast approaching, so looms the spectra of having to file last year's accounts.

Many SMEs may not have considered potential problems if they are about to file a less than impressive set of figures, with many assuming everyone is in the same boat.

How can a haulier boost its cashflow for the upcoming Christmas?

The UK logistics industry is very important to the UK economy, being worth more than £75 billion, employing over 2 million people and is currently one of only a handful of sectors actually growing at present.

Despite this positive outlook, many haulage companies face major cashflow problems with the high price of fuel customers taking longer and longer to pay. Driver wages, HP commitments and vehicle repair bills can also stifle cashflow and the upfront cost of the upcoming Christmas period doesn't help matters at all.

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