The document is a guide for producing monthly management accounts. It was written by Mazhar Mahmood based on his experience in manufacturing and media. The guide breaks down the process into 10 vital activities for preparing monthly profit and loss statements. It is aimed at students, graduates, and newcomers to accounting who want to understand how the finance function works and what to expect to see in monthly management reports. The guide explains organizational charts of accounts, income statement segments, and journal entries underlying the key activities.

1. How to Produce Management
Accounts - A Quick Guide

2. How to Produce Management
Accounts - A Quick Guide
With several years of experience in the manufacturing and media industries,
Mazhar Mahmood has compiled a defined and to the point handbook of
“Management Accounts Production” for all those, who are new in the
profession of accounting or aspiring to join this rewarding career through
academics.
The handbook is packed with a wealth of personal experience within the field
of accountancy and serves to allay any fears and apprehensions by giving a
not-too-deep and at the same time, a sufficiently thorough description of the
general steps involved in the preparation of a monthly reporting pack.

3. The manual “How to Produce Management Accounts: A Quick Guide” is
specifically aimed at students, graduates, newly hires and all those people
who in the main have a curiosity about how the finance function fits in the
overall organisational structure.

4. The learning outcomes of this guide are centered around the ability to
prepare a monthly profit and loss account / income statement, as part of
the monthly management accounts reporting pack.
You will be introduced to the organisational “Chart of Accounts”, the
division of the income statement into its various segments, right down to
the EBITDA alongside the workflow processes undertaken within the main
finance function.

5. However, the Real Value of this guide is in learning and understanding the
10 vital activities that Mazhar Mahmood has identified through experience
and which most organisations undertake to prepare a monthly income
statement.
This is where this guide is very specific and informational. It answers your
question "What shall I expect to see in my monthly management accounts?"
Last but not least, you will be introduced to some of the journal entries that
underpin these key activities.