What good looks like
What good looks like: the framework
Our standards describe the finance support a business of a given size often has. This page explains what they are, what they are built from, and what they cannot tell you.
The short answer
A standard here is our written description of the finance support a business of a given size or situation often has. Each point is labelled as a legal requirement, published guidance or our own judgement. They are working assumptions, not survey averages, and not rules your accountant must follow. None has been reviewed by a practising accountant yet.
What a standard is on this site
Each standard is a short page that says what finance support a business of about a given turnover, or in a given situation, may have in place. Our form uses the same descriptions when it compares what you tell us you receive with what we would expect for a business with your turnover, number of staff and situation.
A standard is not a rule for accountants, and it is not a grade for your current accountant. If your business has less than a standard describes, that is something to discuss. It may be that you agreed a smaller service on purpose, or that your business does not need more yet.
What they are built from
Every line in a standard has one of three labels, so you can see how much weight to put on it.
| Label | What it means | Example |
|---|---|---|
| Legal requirement | Something the law requires, cited to GOV.UK, HMRC guidance or legislation.gov.uk | A business must register for VAT if its total taxable turnover for the last 12 months goes over £90,000.1 |
| Published guidance | Advice published by a professional body, or a requirement published by a lender, quoted with a link | The ICAEW says "annual accounts are not enough to control a business".2 Allica Bank asks for management accounts less than 60 days old for some loans.3 |
| Our judgement | What we think is reasonable, where we have not found a law or published guidance | When a business may benefit from someone other than the owner approving payments |
A lender's requirement is one lender's rule for its own products. We quote it as an example of what a business may be asked for, not as a rule for every lender.
Working assumptions, not survey averages
We have not surveyed UK businesses to find out what support they actually have at each size. When a standard says a business "often" has something, that is our working assumption from the sources above, not a measured share. If a reliable survey with a named publisher, sample and fieldwork date becomes available, we will say so and use it.
How to read the turnover pages
- Pick the page nearest your turnover. The figures are points on a scale, not bands with hard edges.
- Read the table. Each row is one of our seven kinds of finance support, with the basis for each line.
- Read the section on what else matters. Turnover alone does not decide what a business needs. Staff, borrowing, growth, stock and selling abroad can matter as much.
- Treat any gap as a question to raise with your accountant, not as a finding about them.
The standards
By turnover
- A business turning over about £250,000
- A business turning over about £1 million
- A business turning over about £2 million
- A business turning over about £5 million
By kind of support
- Management accounts: what good looks like
- What a monthly reporting pack can contain
- Cash flow forecasts: what good looks like
- How often your accountant might be in touch
- When a finance director may help
The seven kinds of support, and the basis for choosing them, are explained in Why these seven kinds of finance support.
Versions and review
A paid practising accountant will review each standard before release. Until the log below shows a review, every standard is a draft.
| Version | Date | What changed | Reviewer | Result |
|---|---|---|---|---|
| 0.1 | 12 October 2026 | First drafts, written from published guidance | None yet | Not yet reviewed |
We do not name an author for the standards. They are written by the team behind The Right Accountant from the sources cited on each page.
Sources
- GOV.UK, "Register for VAT: when to register". gov.uk/vat-registration/when-to-register. Checked 12 October 2026.
- ICAEW, "Managing your business" (Find a Chartered Accountant, help with your business). icaew.com. Checked 12 October 2026.
- Allica Bank, "Business loans" (lender requirements). allica.bank/business-loans. Checked 12 October 2026. One lender's rule, given as an example.