SIX ways management accounting gives you a competitive advantage

Management accounting can help develop a clear picture of your monthly performance, financial year to date, performance against budget and previous years.

Posted November 23rd 2020

Management accounting does not have to be onerous or expensive and brings many benefits to new and established organisations. Having a clear view of your performance against budget and previous periods can give you financial and strategic advantages in SIX key areas.

Better cost control
Improved margins
Boosted cash flow
Better credit management
Reduced risk
Better strategic focus

1. Better cost control

Monitoring sales volumes against targets
Understanding the profitability of different geographic, industry or client segments
Annual budgeting and the ability to measure against this

2. Improved margins

Price modelling
Product profitability
Cost benefit analysis
Business metrics development

3. Boosted cash flow

Financial forecasting
Sales forecasting

4. Better Credit Management

Buy vs. lease analysis
Internal financial communication

5. Reduced risk

Cost-volume-profit analysis
IT cost analysis
Capital budgeting

6. Better strategic focus

Strategic planning and management advice
Sales management KPIs
Client profitability analysis

Last updated: April 12th 2021.

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