Entries by Jim

Most Common Problems with Product Costs

I find that one of the most common problems with clients is that they are not confident in the product costs for their products or services. If the costs of the products are wrong then their product prices may be incorrect.  They could be too expensive,  losing them business, or possibly they could be losing […]

What is a VIES Return?

Over the past year, I have been getting questions from clients about VIES. Typically, the client has received a letter from Revenue advising them that they should be submitting a VIES Return. But the clients typically don’t know what VIES is and have no idea how to make a VIES Return. At this stage, I […]

What Does An Outsourced Financial Controller Do?

If you struggle to get reliable financial information, or you cannot understand the information that you are getting, then you should consider taking on an outsourced or part-time financial controller. I was talking with a business owner recently who is running a substantial, exporting business.  They don’t have any qualified accounting staff in-house. At the […]

What KPIs should I use?

A question that I regularly get asked by business owners is “what KPIs should I use?”.  Most business owners are familiar with the idea of KPIs and they understand that they should have them but they are not sure where to start. I have been working in management for over 20 years now – initially […]

Which Is The Right Type Of Accountant For You?

Which type of accountant is right for you? Do you need to hire an accountant but you don’t understand all the different types of accountants and how they differ? Your relationship with your accountant is very important. A poor decision could have negative impacts on profitability or the amount of taxes you’ll pay. You need to choose well. […]

How Good Are You At Managing Your Business Finances

I have provided part-time controller services to many businesses over the years. The level of financial management in businesses varies from business to business. There are a number of broad categories that could help in managing your business finances. No Financial Management The least capable of businesses ignore financial management. Documentation is gathered up during […]

Assess your Financial Management Capability

The financial management capability of Irish SMEs varies significantly. I have been working with many Irish SMEs over the past 20 years helping them to improve their financial management capability.  Over time, I have observed a number of different stages that businesses go through as they develop their skill levels. I have set out in […]

Are your financial results different from what you expected?

Have you ever been presented with a set of accounts where your results not what you expected?  It’s really frustrating. Maybe you’ve had a very busy period with strong sales and you are expecting to see a very healthy profit in your accounts.  Instead, you have a poor profit or even worse, a loss. If […]

Managing Foreign Exchange – Preparing for Brexit

In the past few months, I have been getting more and more questions from exporting companies who are worried about the effects of Brexit on their businesses. There are a number of areas that cause concern but two, in particular, are common for the companies I have been talking to. Firstly, Sterling has weakened significantly […]

Using Your Accounts To Manage Your Business

Hello, Do you ever wonder how some businesses are able to use their accounts to help them manage and improve profitability?  In this short video, I will give you an approach that will change how you think about, and how to use accounts to manage the business. I’m Jim Cahill of AccountsPLUS. I provide CFO/FD […]