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I never came across an accountant like you before!
Are you missing out on the benefits of budgeting
Larger companies prepare regular budgets or forecasts. 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...
How banks evaluate lending requests
I was talking with a banker recently 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 many months ago are gone. Now they are...
Getting Better information from your 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...
Simple tips to improve Cash Collection
Cash collection is often an an issue for businesses. It's very important to find a working way to be able to implement cash collection since giving credit is at times unavoidable in many businesses. Over time, I have accumulated a number of tips you can use to avoid...
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
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?
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?
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...
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...
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
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
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
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
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...
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 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...
What do Venture Capital Companies look for in a business plan?
What do Venture Capital Companies look for in a business plan? Are you a start-up business, looking to bring in some Venture Capital Investment? You know you need to have a business plan but you are not sure what to include in this business plan. I have been...
8 things you need to know about Value Added Tax (VAT)?
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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
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...
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