What are management accounts? (A complete guide for businesses)
Management accounts are one of the most powerful tools in a business owner’s toolkit, used well, they can completely transform how you run your company. They can help business owners make better strategic decisions, stay in control of your cash flow and scale your business with confidence!
In this guide, we’ll explain what management accounts are, how they differ from year-end financial statements, and how you can use them to your full potential.
Whether you’re a founder, CFO, trainee accountant or just stepping into your first board meeting – this guide is your starting point.
What are management accounts?
Management accounts are financial reports prepared monthly or quarterly to give business owners a real-time picture of how your business is performing. Unlike statutory financial statements, which are required by law and prepared annually, management accounts are optional, but incredibly valuable.
What’s included in management accounts?
They’re created for internal use and designed to support better decision-making, budgeting, and strategy. At striveX®, we produce management accounts that go far beyond the basics. We help you understand what the numbers actually mean.
To explore the differences between management accounts and financial statements? We break it all down for you in this blog
Our management accounts service includes everything you need to make confident, informed business decisions. They are provided in a clear and useful format that can be enjoyable to review (yes, really!) As standard, you’ll receive:
- Profit & Loss Statement (broken down monthly)
- Balance Sheet (a real-time snapshot of assets, liabilities, and equity)
- 30-minute review meeting to walk through key findings and next steps
Want to dive deeper into the numbers? Our enhanced options include:
- KPI tracking (e.g., gross profit margin, sales growth)
- Budget vs. Actuals comparison
- Segmental reporting by product, service, region
- Custom insights such as stock levels or project profitability
- Board-style PDF management packs for presenting to directors or investors
Work with Strivex today
If you’re ready to level up your financial strategy and make confident, data-led decisions, our management accounting service is built for you. Book a free call with our team to explore how striveX® can support your growth.
Why do businesses use management accounts?
Better decision-making – No more waiting for year-end surprises
Cost control – Spot inefficiencies and plug leaks early
Cash flow clarity – Plan and prepare for seasonal shifts or unexpected costs
Progress tracking – Measure performance against your goals
Early warning system – Identify risks and mitigate before they snowball
Stakeholder trust – Share clear financial updates with investors and partners
Strategic growth – Use insights to scale sustainably and fuel strategic expansion
How striveX® does things differently
Most accountants produce a spreadsheet. We produce strategy.
At striveX®, your management accounts are prepared with you, not just for you. We take the time to adjust figures into the correct period, ensure accuracy through meticulous reconciliations, and deliver everything in a format that makes sense to you and your board. Our monthly review call means you’re never left trying to interpret the data alone. We walk you through what the numbers mean, where your attention is needed, and how to move forward.
No jargon. No guesswork. Just clarity.
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