Pricing of services is difficult for any business. Without an analysis of the costs it is even more difficult to set your prices at the best level for you.
Financial Accounting | Management Accounting |
Reports to those outside the business, such as banks, HMRC | Reports to those inside the business for planning, directing and motivating, controlling and performance evaluation. |
Emphasis is on the financial consequence of past activity | Emphasis is on decisions affecting the future |
Objectivity and verifiability of data are emphasized. | Relevance of items relating to decision making is emphasized. |
Focus on precision of information | Focus on timeliness of information. |
Must follow Generally Accepted Accounting Principles (GAAP). | Need not follow Generally Accepted Accounting Principles (GAAP). |
Alterledger will work with you to set up bespoke reports to enable you to stay in control of your business and drive it forward.