Category: Financial Management

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Keeping your books in order

Added by 6 years ago

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There are two reasons to keep records of your business: they're required by law, and they're useful to you as a manager. Records must be kept to work out the tax liabilities of your business. The records must be pe...

Adopting stock purchasing and control procedures

Added by 6 years ago

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When buying stock there are two crucial components. Firstly, you must have a system in place so you are fully aware of the stock you need to replace and methods to predict when stock may diminish. Secondly, it is vita...

Effective management of costs and costing systems

Added by 6 years ago

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It is important that your business keeps an effective costing system to ensure your prices (and cost management) are accurate. Even simple records can make your costing system more efficient and easy to run. Your c...

Looking in the crystal ball – forecasting cash flow

Added by 6 years ago

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Having sufficient cash flow is essential to the survival of your business. Therefore, you also need to predict how much is coming in, from where and when. If your accounts are accurate and up-to-date, you can exami...

Calculating car parking fringe benefits

Added by 6 years ago

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Car parking provided by an employer to an employee (or associate) is subject to FBT. FBT applies to car parking where one of the following benefits is provided: a car parking fringe benefit; or an eligible car p...

Evaluating your financial situation

Added by 6 years ago

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The amount of money it takes to transform an idea into a business depends on factors ranging from the nature of the product or service to the aptitude of the businessperson. Traditionally, it has been hard for small v...

Managing your petty cash

Added by 6 years ago

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We do not yet have a completely cashless society. This is unfortunate for business owners, because managing petty cash is time consuming and often prone to error - out of all proportion to the amount of money involved...

Can you make money from e-commerce?

Added by 6 years ago

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One question that is often asked is “can I make money from e-commerce?” In a word, “Yes”. Of course you can, otherwise why would so many e-tailers be springing up at such a rapid rate? However, the amount of money ...

Experience the joy of bookkeeping

Added by 6 years ago

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Starting a small business is more than having a light bulb moment where you see yourself as your own boss, working when you like, with whom you like, and selling what you like. It's also more than coming up with a cat...

Options for financing long term assets

Added by 6 years ago

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When you are ready to expand your existing business, your greatest problem will probably be finding enough cash to satisfy your expansion agenda. The alternatives financing options available to you include: Using...