Entries by Jim

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 you use, your accounts. I’m Jim Cahill of AccountsPLUS. I provide CFO/FD services to Engineering […]

Who AccountsPLUS are NOT a good fit for

I know that AccountsPLUS is not going to be a good fit for everyone. Over the years, I have worked with many different colleagues and with many different clients.  As I review my experiences, I realise that there are some types of clients who don’t benefit from my approach.  Equally, I get more enjoyment and […]

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 products costs are wrong then their product prices may be incorrect.  They could be too expensive,  losing them business, or possibly they could be losing profits by […]

What does a part-time Financial Controller do?

Thinking about a Part-time Financial Controller? Have you ever thought about using a part-time Financial Controller?  Would you benefit from having access to additional financial management skills? 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. Their annual accountant comes […]

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 […]

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 […]

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 […]

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 […]

Form of Business – Sole Trader v Limited Company

Which form of business? If you are starting out in Business, you have several decisions to make.  A key decision is to decide which form of business to use.  Will you trade as a sole trader or will you  trade through a company? You may not fully understand the difference between the two forms of […]