Management Accounting

Tax accounting is what most public practice accountants do. Management Accounting is very different – it’s the accounting and reporting done in an organisation to help the owners/leaders make decisions. Both are done by accountants, but a different mind-set and skill-set is required for each.

At Tactica Partners, we do both. We regularly see how timely decisions are made using Management Reports that would not have been made – and the positive differences those decisions make to businesses.

Larger businesses generate Management Reports regularly (usually monthly) and can’t imagine doing business without them. Smaller businesses often haven’t discovered them yet and we’ve seen dramatic turn-arounds in business performance when they have.

We have worked with Tactica for over 10 years now and really value the way they keep us focused on the numbers. They have shown us the KPI’s we should be tracking in our most recent business venture, which gives us insights into areas that are going well and those that need work. We check in monthly to see how the business is performing against the forecast that we set together and it is great to have someone to be able to bounce ideas off.

For our clients that use our management service we usually report monthly, attend management meetings and compare actual results to the forecast.

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