In our previous Podcast, we mentioned we were going to start an accounting series for SMEs, well… welcome to part 1. Profit and Loss Statements: Profit and Loss statements are the most frequently used reports to measure a company’s financial position so it is very critical to understand it and know how to maintain it. …
I often hear people referring to others as “they are a natural salesperson”, which means, that person is capable to sell anything to anybody. While I agree that some of us have more skills than others to perform some activities, like selling, this statement undermines the importance and the complexity around the sales process, and …
In our previous blogs and podcasts, we have discussed the importance of Cash Flow in SMEs. Simply speaking a healthy cash flow is the one where you show a consistent “surplus” of revenue vs expenses (profit). This determines the financial feasibility of your organisation. In this opportunity, I would like to focus on the revenue …
WHAT DOES A COW, A DOG, A STAR AND A QUESTION MARK HAVE IN COMMON?Read More »
Should I get a Loan? should I get financing? how am I going to finance my business if my customers are not paying on time and I am spending way too much money? These like many other are very common questions, and we have said it before, they are very important ones. But they just …
Have you ever noticed that your profit and loss statement doesn’t really align to your bank account? Are you thinking you might be going crazy? The answer is NO! you are not going crazy. There are big differences between P&L and cashflow. Here are some of them and how to make sure you work on …
It is a known fact that credit scores are a vital way to assess a company’s borrowing history as well as an individuals, but the truth is that most of us don’t know how to properly track and manage our personal and business score. So how can you? In Australia we have a negative credit …
Working capital. You have probably heard them coming out of high end corporation’s executives, bankers or accountants. Like most finance terminology, it means something very simple, but so many SME owners do not really know what it is and how important it is to them and their business. So, we are going to be breaking …