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Monitoring trust budgets: management accounts

Understand what trustees can expect from management accounts and how to scrutinise the information provided.

Guidance
06/07/2023
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Academy trusts must prepare management accounts each month, which set out their financial position and performance. The chief financial officer (CFO) for the trust will likely produce, or take the lead on producing, management accounts and reports.

Management accounts are an essential source of information for trustees when it comes to monitoring the budget and overseeing financial performance.

Our guide to management accounts explains what trustees can expect to see within these reports and how to understand the information provided.

The guide covers:

  • frequency and circulation of management accounts
  • management accounts format
  • ensuring the accounts meet your needs
  • scrutinising the accounts
  • tools to help you scrutinise financial performance

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