Management accounts can be defined as set of summarized accounting data (balance sheet, cash flow, and income statement) prepared and presented (usually every month, fortnight, or week) specifically for a firm’s management.
Financial Statements for a period of less than 12 months is also known as a set of Management Accounts. Most lending houses and banks only accept Annual Financial Statements if they are issued within 3 months of the business’s year end. Should the period be longer the bank or lending house may ask for Management Accounts and with this we can assist our clients.
