Northern Accountants

3. Evalute

Measure actual performance against business plans

Once budgets and forecasts have been created, you must systematically measure your actual performance and compare with your targets. Traditionally this takes the form of detailed management accounts – monthly profit and loss accounts, balance sheet and cashflow.

However traditional management accounts do not give enough information to really drive your businesses forward. As a proactive business owner you should also establish other Key Performance Indicators (also known as KPIs), to help you truly understand your business progress and direction. These will allow you to respond quickly to any developments.

How Northern Accountants help you:

  • Produce detailed management accounts – We help you develop accurate and timely management accounts complete with graphs, analysis and commentary (if you wish) - within a few days of the month/quarter-end.
  • Create a OnePage Plan – We’ll map goals, success drivers and results in a monthly OnePage Plan, which can be harnessed with tools such as Success Driver Mapping to identify, measure and evaluate operations and financial activity.
  • Measure your KPIs – Our Success Driver Mapping software will identify, measure and evaluate every single KPI in your business. Doing so highlights any gaps between your targets and actual performance, enabling you to create an action plan for closing those gaps.
  • Often described as ‘the ultimate performance management tool’, we recommend this as an indispensible tool for any successful business.
  • Discuss key issues – We’ll arrange quarterly meetings to discuss all of the key issues raised by your performance measures. These meetings - which we call the BoardView service - are designed to help you solve problems, seize opportunities and create an action plan to drive your business forward.

The One Page Plan is my monthly bible of what I have to do in order to achieve my business and personal goals. I rarely look at anything else and my business has never looked back.
Francis Stephenson Buffalo Web Design Ltd

Have a question?

2014 Northern Accountants Ltd. All Rights Reserved

Web Design, Hosting & SEO by Buffalo