Prepared monthly, bi-monthly or quarterly, these usually comprise the profit and loss account, balance sheet and also other information deemed relevant. There are no rules as to what is presented but the function of management accounts is specifically to assist the company directors with successfully managing the business. Most businesses in Ireland only prepare year-end accounts which generally are completed four to eight months after year-end. This would compare to a soccer or rugby team no knowing the score until half an hour after the match is over – it’s simply too late to take any corrective action. Jordan Business Services specialize is Management Accounts services. Now suddenly, that soccer or rugby team have a score board to let them know how where the stand at any given moment and take actions to alter the end result.

Through cash forecasting they can also predict future costs and income giving reassurance and confidence in the future.