Adding Value-Accounts

Adding Value to the Accounts

All accountants produce accounts - generally from final accounts software (sometimes adjusted in Word) or using Excel.
Be different - do things differently - to make your accounts different from the competition.
There are often tweaks that can be made from within the final accounts software to add value to the end product.
Use this checklist for internal assessment to identify methods of "being different"

Are accounts output in a standard "house style" format...? e.g. consistent font styles, layout etc.

Do accounts (other than Income and Expenditure accounts) include a "funds flow statement"?

Is the client logo, strapline or other image incorporated on the front page of the accounts to personalise the output?

(A generic image could be used where the business does not have a logo - e.g. picture of the trading premises, a cow for a milk farmer etc)

Do the accounts include a summary for the last 3 / 4 / 5 years if available?

Do accounts include (as a minimum) graphs of turnover and profit for the relevant number of years?

Do accounts include graphs of the sources and application of funds for the current year?

Is consideration given to other graphs which might be suitable for inclusion?

Is a one page "what if...?" summary included showing the effect of flexing sales, costs of sales, margins etc?

(2020 Business Analyst on Forms, Letters and Tools contains such a tool)

Management Accounts

Are Management accounts produced on a regular basis for the client?

(The use of cloud accounting makes this much easier to do)

Thank You Page

You have completed this Checklist!

Thank you for taking the time to answer this checklist. Now it is time to address any issues identified.