Problems Related to Generating Monthly Management Accounts
What is Management A/C ? the provision of financial data and advice to a company for use in the organization and development of its business. Typically management accounts will include : Key performance indicators. Profit & loss statement. The balance sheet. Problems Related to monthly management A/c 1. Financial reports lack comparative data. 2. Needs complex calculations. 3. Financial statements don't reflect reality. 4. Failure to revise or study the statements. 5. Failure to prepare perpetual cash flow forecasts. Bibliography : By team B ( Aman, Rajni, Azra , sonam) _sources used : Source https://www.concur.co.uk/newsroom/article/monthly-management-accounts-and-why-every-business-needs-them https://www.fm-magazine.com/issues/2018/dec/how-to-fix-financial-reporting-errors.html Dated - Feb 10, 2021
