Cash Flow Forecasts

Good cash flow management is essential in every business if it is to succeed and grow. Cash flow forecasting is about predicting when money will move in and out of your bank account in the future. It’s easy to see how much cash you have in the bank today (you just check your bank balance!) […]
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HMRC’s New Proposal for IR35 Reform

IR35 was introduced in 2000 and is designed to tackle tax avoidance, by establishing whether people who are self-employed should actually be classed as employees for the purposes of paying tax. HMRC introduced controversial IR35 rules for the public sector in April 2017. Instead of the contractor having responsibility for determining their employment status, the […]
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Nine Reasons Why Financial Planning Is Important

Financial planning helps you determine your short and long-term financial goals and create a balanced plan to meet those goals. Here are nine reasons why financial planning – with the help of an expert financial advisor – will get you where you want to be. Income: It’s possible to manage income more effectively through planning. Managing […]
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Benefits of Aligning your Finances & Strategy

Effective business planning will determine what business success looks like and what needs to be done to achieve it. Once you have a clear plan for your business, you need to look at the numbers to see if your plan will provide the financial results that you want. This is done by preparing a budget based on […]
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Budgeting Explained – A CIMA Overview

The Chartered Institute of Management Accountants (CIMA) produce a range of 'Topic Gateways' which are intended as a refresher or introduction to topics of interest to their members and others involved in the practical application of finance within organisations. Budgeting practices are heavily influenced by the organisation's management style and can vary considerably, but the […]
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Learning Point: Understanding the Difference Between Microeconomics and Macroeconomics

The simple difference is microeconomics is generally the study of individuals and business decisions and microeconomics is generally the study of individuals and business decisions. Macroeconomics looks at higher up country and government decisions. Macroeconomics and microeconomics, and their wide array of underlying concepts have been the subject of a great deal of writings. The […]
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Learning Point: Understanding How Accrual Accounting Differs from Cash Basis Accounting?

We cannot all accountants but as a leader in an organisation, it can be useful to have a basic understanding of some of the key financial terms and processes used to manage the organisation's finances.  So, how does accrual accounting differ from cash basis accounting? In simple terms, the main difference between accrual and cash basis accounting lies […]
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