Entries by Jim

Are you missing out on the benefits of budgeting

It’s the start of a new year and larger companies will have their budgets done, or almost done. Yet, in most owner-managed businesses there are no budgets or forecasts. Ask them why and they’ll give you all sorts of reasons. They haven’t got time. The current climate is so uncertain its nearly impossible to get […]

How banks are evaluating lending requests

I was talking with a banker last week about their lending policies at the moment. One thing was very clear. In the current climate, they expect companies to have up to date accounts. The days of the bank accepting accounts from last December are gone. Now they are looking for much more up to date […]

A framework for Improvement: TOTE principle

Applying the TOTE principle to business. In personal development work, the TOTE principle is an iterative problem-solving strategy using feedback loops. This principle can be applied equally well to business. The First T is for Test. Test the environment and identify what needs to be improved. At this stage you also need to be clear […]

Getting Better information from Computerised Accounts

I remember once attending an Insolvency Update. One of the speakers, who regularly works on examinerships, commented on the lack of good accounting information in most of the companies that go into examinership. This really struck a chord with me. In most of the improvement projects I have worked on, the accounting information was either […]

Simple tips to improve Cash Collection

I have been working with a number of clients lately where cash collection is an issue. I am sure that’s true for every accountant now. It’s very important to find a working way to be able to implement cash collection since crediting is at times unavoidable in many businesses. Through research and experience, I have […]