{"id":1952,"date":"2019-09-11T21:17:57","date_gmt":"2019-09-11T11:17:57","guid":{"rendered":"https:\/\/saige.com.au\/?p=1952"},"modified":"2019-11-08T11:53:53","modified_gmt":"2019-11-08T00:53:53","slug":"why-your-business-needs-a-management-accountant","status":"publish","type":"post","link":"https:\/\/saige.com.au\/business\/accounting\/why-your-business-needs-a-management-accountant\/","title":{"rendered":"Why Your Business Needs a Management Accountant"},"content":{"rendered":"\t\t
It is a common myth that management accounting is used purely by the big end of town. Almost all small to medium sized businesses can benefit from the use of management accounting at some point to make important decisions on the direction they take, and when they take them. But was is management accounting? When is it needed? And, what is involved?<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t Management Accounting differs from regular accounting. The easiest way to compare management accounting to regular accounting is that regular accounting and bookkeeping looks backwards<\/strong>\u00a0and reports on what has happened in the past. Whereas management accounting looks forwards<\/strong>\u00a0using reliable data to forecast what will happen with your business into the future.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t Management accounting can help with any future planning a business may require. This generally revolves around a few main areas:<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t Management accountants are by nature proactive. This means they will look for opportunities and bring things to the business owner\u2019s attention that need addressing. Regular accountants may of course do this too, however properly trained management accountants have the skills to provide thorough statistical analysis of reliable financial data.<\/p> Getting a management accountant to assist in analysing your business is a good idea if you have an upcoming decision to make on the future of your business. Even if you don\u2019t, having a management accountant regularly look over your books can help pinpoint decisions that need to be made for ongoing business success.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\tWhat is management accounting?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
When is management accounting needed?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Proactive accounting<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Management Accounting on the Central Coast<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t