Management accounting
We add a breakdown by product, project and client to the books to show the profit on each.
What's included
- Profit by product, project and client
- Product cost
- Sales needed to cover costs
Frequently asked questions
Is management accounting mandatory?
It is done by choice, as it serves the director. It is useful when overall profit no longer tells the whole story.
Does a small company need it?
One simple breakdown, for example by service, is often enough. A complicated system is not needed.
How does management accounting differ from management reports?
Management accounting is the way data is recorded and split. Reports are the result you read.