Many companies will experience short-term trading and cashflow issues during their lifetime. If these become significant and the company is unable to recover, then the Directors may need to consider placing the company into insolvency. In law, a company is insolvent...
When I discuss a set of financial statements with a business owner, an often uttered lament is “I have made this profit but where’s the cash gone?”. In days of your, it was a requirement that a set of financial statements would include a cash flow statement as an...
I thought I would revisit one of the tests I do when I review a client’s accounts. I try to look at the threats to a business. What could occur which might imperil the wellbeing of the business? One such danger might be the over-dependence of one customer. I would...
In business, your profits are your reward for your endeavours. In fact, profitability is the only reliable measurement of a business’ success. Profits are the very lifeblood of a business. They fuel growth, support the owners, provide for the well-being of the...
Any business, whether it is just starting out or is considering the next stage in its development, will need a business plan. A business plan serves several important purposes. Perhaps the most obvious is to help raise funding. A business plan is the document that...
Whether you’re holidaying abroad or enjoying the sunshine at home, the summer is usually a chance to take a well-deserved break. But for small businesses, this time of year can also come with the stresses of slower business and potential cashflow problems....
