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We are proud to be associated with some of the best financial and business associates in the industry. By working with the following, we are able to provide our clients with the most up to date accountancy platforms and knowledge to run successful businesses.
One of our jobs as financial directors is to train business owners and managers on the fundamental foundations of finance. By understanding the 3 different core statements/reports that make up a set of accounts – and the jargon that goes with them – you’ll become much more confident in your ability to translate the figures, and realise that accounts aren’t really quite as complex as they can first appear.
The balance sheet is one of the 3 different statements/reports that make up your set of accounts; it’s called a balance sheet because it will always balance
We say this is the ‘video’ of your business, as it tells the story of how operationally efficient your business was in the 12 month accounting period, by showing all the invoices in and out, to show revenue raised and costs incurred.
Your cash flow statement is like your business’s CCTV camera, as it shows you physically what cash has come in and what cash has gone out in that accounting period.
Setting a goal gives us a target to aim for; it gives us something to focus on and helps to keep us motivated; a natural by-product is enhanced performance. And the benefits don’t just appear when you meet the goal. There’s plenty of evidence to suggest that just by setting one in the first place you have a higher chance of being successful, whether you meet the challenge you set yourself or not – and in my view, that’s because in thinking about what’s required for a target, you’re already putting yourself ahead of people who don’t.
Setting a goal gives us a target to aim for; it gives us something to focus on and helps to keep us motivated; a natural by-product is enhanced performance.
Financial advice for SMEs – 2017 round-up In this last post before Christmas, I thought it might be helpful to take a look back over the posts I’ve published during the course of 2017. I really enjoy my work as a Portfolio Finance Director and sharing my knowledge in order to help businesses improve their money matters is all part of the service – so here are some top picks from this year’s articles. I’ve selected those that have good generic information that most SMEs would find helpful. A little light reading for over the Christmas break to help you prepare for an even more successful New Year!
As a business owner or manager, it quite literally pays to be on top of your finances – but when your skill set lies in other areas, what’s the best way to bring your knowledge up to scratch? While you may not feel you have time to invest in any long-term, ongoing commitment, there are some fantastic one-day financial training courses around that will arm you with all the information you need to make better decisions and understand the underlying principles of good financial management. By getting to grips with the basics, you’ll be able to keep a closer and keener eye on many elements of your business finances, and have more informed conversations with colleagues, staff and associates.
January is a time of the year that prompts reflection, optimism and objective setting for many - so much seems possible and barriers don't seem quite as big as they did before the Christmas break. Something that holds back a lot of people is a grasp of the basics of business finance.
“Those who can – do. Those who can’t teach.” - You may have heard this quoted before – the exact origin is difficult to establish but it is likely derived from George Bernard Shaw’s
