successful business Archives

Two separate sets of books…for the right reasons

30/03/2023 | 118 Accounting | accounting, analysis, FinancialFreedom, planning, successful business

Following on from our previous scaling up posts , the next MUST HAVE is keeping two separate sets of books. One for compliance or tax reporting and the other for internal management reporting – the goal of which is to simplify the numbers. Right about now you are probably thinking, how does this save me time and benefit me… “now I need to have two accounting programmes for different reasons”… Read more

Trend analysis and early warning systems to support better prediction

20/02/2023 | 118 Accounting | accountant, analysis, planning, profitability, small business, successful business, Trend Analysis

Let us commence by understanding and answering the following questions that are relevant: 1. What exactly is Trend Analysis? – This is a technique used to analyse an entities financial data by collecting information from multiple prior periods and using this information to generate valuable insights, to assist in understanding the past and making data based decisions to change the future. 2. What can Trend Analysis be used for :… Read more