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Doing Business in a Time of Crisis

Doing Business in a Time of Crisis

In early December last, I participated in an online Webinar Series organised by Udaras na Gaeltachta. The theme of the series of “Webinars was Doing Business in a time of Crisis” and my topic was “Regenerate Your Business”. Here is a recording of my...

Most Common Problems with Product Costs

Most Common Problems with Product Costs

Over the years I have found out that most clients are not confident in the product costs. Unfortunately, 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...

What is a VIES Return?

What is a VIES Return?

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

What KPIs should I use?

What KPIs should I use?

One question that business owners regularly ask me 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...

Managing Foreign Exchange – Preparing for Brexit

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 managing foreign exchange after Brexit. There are a number of areas that cause concern but two, in particular, are common for the companies I have been...

Using Your Accounts To Manage Your Business

Using Your Accounts To Manage Your Business

https://youtu.be/wAlCNHEgfFo 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...

Form of Business – Sole Trader v Limited Company

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...

Tax Allowable Deductions

Tax Allowable Deductions

Are you claiming all of your allowable expenses when doing your taxes? Most people know about the PAYE tax credit and the Earned Income Tax Credit.  They also know about Pension allowances and Medical Expenses. Not as many know about what the Revenue call Flat Rate...

Understanding Financial Statements

Understanding Financial Statements

Do you understand financial statements and how they relate to each other? Over the years, I have developed and delivered workshops on Finance for non-financial managers.  As part of those, I developed some simple scenarios to explain the key points. This series of...

Understanding Financial Statements

How to calculate your breakeven point

One thing I am often asked about is how to calculate your breakeven point. Video on how to calculate breakeven (6 min) https://youtu.be/ikltE7SeErY Other relevant articles If this topic is relevant for you, you may  also be interested in the following blog posts. The...

Reducing the cost of preparing your Annual Accounts

Reducing the cost of preparing your Annual Accounts

Reducing the cost of preparing your Annual Accounts Are you conscious of your business costs and do you want to reduce the cost of getting your annual accounts and tax done?  It’s a common issue and one I will address in this article. As you may know, I am a qualified...

8 things you need to know about Value Added Tax (VAT)?

8 things you need to know about Value Added Tax (VAT)?

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10 elements required in improvement projects

10 elements required in improvement projects

The best approach to implementing improvement projects What’s the best way of implementing improvement projects?  This is one of the most common questions that I come across when working with clients. Let me start by stating that I have over thirty years of experience...

How to Master Product Costing

How to Master Product Costing

Every business needs to have a good understanding of its product costing.  If it doesn’t it could end up quoting or pricing incorrectly.   You could have a situation where losses on one product are wiping out profits on another product. So how do you improve your...

What do I have to do to get a business loan?

What do I have to do to get a business loan?

One of the questions that comes up often is from someone who is having trouble getting a business loan.  They are frustrated and want to know what they need to do to get that loan loan. To answer this to have to first put yourself in the shoes of the bank manager....

Allowable Motor Expense Rates (2017)

Allowable Motor Expense Rates (2017)

Allowable Motor Expense Rates (2017) Revenue amended the rates for claiming motoring expenses with effect from April 1, 2017. Given that most businesses use these rates as the basis for Revenue-approved motor expense claims for businesses, you should be aware of the...

What tax/accounting returns do I need to make for my business?

What tax/accounting returns do I need to make for my business?

Which type of returns should you make? To answer it, the first thing we have to do is to identify the form of your business.  Are you a sole trader, a partnership or a limited company? This table summarises the key reporting areas. Sole Trader Partnership Company...

How to prepare financial projections

How to prepare financial projections

Feedback I get regularly from the clients is that they don’t know where to start with the financial projections. So in this article I want to give you a framework and an overview of how I go about doing projections. My approach is something that has built up over...

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