Management Account Preparation is the creation of financial statements up to a specified period based on the available books and records of the company so us to assist management make informed decisions about their business.
At a high level, we are often asked by the board of directors or company owners to assist them with future projections and management information that would improve the business performance and bottom line.
Typically, such information is requested in low profitability business periods or in periods where management intends to invest significant amounts of money and detailed future projections and expectations are needed.