The Profit & Loss (P&L) is one of the key monthly management reports which tells you how you are doing financially, for a month and for the year to date. It can help you see if you are on track to make a profit for the year, and show you areas to look at inContinue reading “Understanding Accounting & Finance, Part 2 – The Profit & Loss Report.”
Category Archives: Money Management
Is Your Business Ready for the Scrutiny of the Digital Age?
One of my clients is currently going through an external audit (I can hear the collective groans from here…..) and it is the usual thankless process of answering the long, almost never ending, list of queries from the auditor. Audits seem to take up so much time and expense, but why is that? What ifContinue reading “Is Your Business Ready for the Scrutiny of the Digital Age?”
Understanding Accounting & Finance, Part 1 – Introduction.
Some industries make use of lots of technical terms, and accounting and finance is one of the main culprits, it’s up there with IT. Whilst you may be able to get away with not understanding a lot of the technical jargon (especially where computers are concerned) when running a business, accounting and finance is anContinue reading “Understanding Accounting & Finance, Part 1 – Introduction.”
Can We Make Our Own Rules In Business?
There is the standard check-list of things to things to think about when running a business, including staff levels, training, sales and marketing, finance and IT to name but a few, but what if you have all of this in place and are still struggling; could there be something else stopping your business from beingContinue reading “Can We Make Our Own Rules In Business?”
My Steps to Creating a Basic Budget.
As the the Coronavirus pandemic continues, more and more people are struggling financially; with more people claiming benefits, the pressures of managing money has become even more important. Setting a budget is vital in helping get through tough times; it won’t give you any more money, but it will give you clarity, even if theContinue reading “My Steps to Creating a Basic Budget.”