Actual v Budget Accountability

Dear Accountant,

Step 12 developing line manager performance 

In my last post I outlined how to commit a new line manager to their responsibilities through a personal development plan and career progress support.

So now it’s time to match all that to business performance by generating management accounts that compare actuals to the budgets they agreed.

At monthly team meetings these are discussed to understand what actions / inactions explain over/underperformances to learn from and improve. Through this iterative process business and personal performance rise through better understanding of how business decisions drive financial performance.
 
In my next post I’ll show how to add business plan implementation reporting to ensure that the practice builds its progress into the future.  

With kind regards from

Duncan

Founder

This third series of posts reveals the steps needed to progressively evolve a practice into a business advisory business by learning to ‘take its own medicine’ first.
See the overview here https://www.runagood.com/consultancy and if you wish to jump ahead to see what’s coming, ask here or to see what’s already been posted 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 one million businesses large and small. Ask him anything, anytime for free at duncan@runagood.com.

The ‘Runagood® Business Pathway’ takes any client from start up to exit solving their every ambition and problem along the way.
…via a National Accountant Network.