accountinglads
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The management accounts are internal financial statements that are prepared periodically (mostly monthly/quarterly) with the objective of enabling the managers to control their business performance. The profit and loss statements, balance sheets, the cash flow forecasting, and the key performance indicators are normally included in these accounts. As opposed to statutory financial statements, the management accounts are tailored to individual company needs and may incorporate variables such as the breakdowns by department or individual product lines. They are intended to serve the management teams in acts of strategic decision-making by presenting to them, recent, pertinent financial information.