Management accounts in a nutshell
ID:CVMANS
Video Overview
Annual financial statements are prepared by all business entities in order to determine the financial performance and the financial position of the business. Management accounts should also be prepared by an entity. These management accounts are used to review past performance and compare actual performance to the relevant budgets. In this way management can identify where the actual performance has deviated from the budgeted figures and corrective action can be taken. In this tutorial we will discuss management accounts in a nutshell.
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