It is a sad truth that the majority of people are financially illiterate; just consider those who pay £1.50 charge to withdraw £10 once a week from a cash machine when they could withdraw the same amount for free from the correct ATM. Or those who borrow money from payday loan companies because it’s money […]
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The financial health of your business is a key indicator of how well it is performing; and many business owners don’t recognise what that key indicator is shouting at them. They simply may not realise when their business is struggling. Not noticing these warning signals can be a big problem so you quickly need to […]
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Today’s modern world is changing and it is often thanks to advances in technology that we see some of the greatest benefits to our lives and businesses. Technology is empowering businesses to achieve what they want far more efficiently and one area which is changing a lot is accounting. Cloud accounting is a powerful tool […]
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Cloud computing is one of the rising stars of business IT services. Being able to store and use systems remotely, accessible from anywhere can save businesses many hundreds of pounds in software licence fees and time transferring information. One of the best applications for our clients is cloud accounting systems. They are incredibly useful in […]
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Proper financial management is not a luxury when it comes to running a successful business; it is essential if your organisation is to maximise profits and give you a high return on your investments. Therefore, you should attempt to make it a critical aspect of your company’s planning and processes. To achieve this you need […]
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Some customers make you money and others take it from you. We once worked with a small manufacturing business who thought they were making 3% net profit. We had the pleasure of telling them that the figure was actually closer to 9%. Less happily, one of our colleagues worked with a trading business that had […]
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When it comes down to your customers, they each have a lifetime value. This value is important because it can help you determine just how much time and money to invest in acquiring a customer. With this information, you can do detailed budgeting and marketing avenues scrutinised to check they are worth the spend. So, […]
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The costs our businesses spend on research and development are often taken for granted; and worse still, from an accounting perspective, rarely classified as R&D. After all, some expenditure can be seen as wasted when we follow certain paths that don’t lead to a successful outcome. The Financial Act 2000, states that at least a […]
Continue readingMistakes help us learn and improve our businesses. While it is impossible for us to never make a mistake, you can limit the errors made by learning from others. Accounting mistakes from large businesses are often highly publicised and so much can be learnt from their experiences. So what are the three biggest accounting mistakes […]
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When you are making an investment, you need to know that you are going to make a return on the cash and time spent. If you don’t, you could end up making a loss which can have negative consequences on your business and on growth you intend to achieve. The wrong investment, as seen by […]
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