Management Accounting Action Plan

Dear Accountant,

You have now drawn up and agreed a line-by-line revenue and cost budget (see last post) meaning you can move on to building a corresponding management chart of accounts which these Action Plans show how to do.

Still operating via expert Consultancy, given the high need for accountancy expertise  you now produce the client’s first set of management accounts, ideally monthly, but quarterly for sure.  

Crucially, these show deviations between budgeted and actual lines of revenue and cost. So, in my next post I’ll move onto how to interpret what these mean and how to take the right management actions. Meanwhile, you can take a closer look at this and all the tech here.

With kind regards from

Duncan

This is one of a major series that reveals all the processes to use. But if you wish to jump ahead to see what’s coming, ask us here or to see what’s already been posted click here.

Duncan Collins founded Runagood® to make practical solutions affordable for owner managers via accountancy practices, profitably, by pioneering AI. He has automated the 000’s of consultancy techniques he learned the hard way during 60 years of running, helping, buying, selling businesses large and small. Ask him anything, anytime for free at duncan@runagood.com

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