Blog Category: Financial training

Why do we do Budgets?

  Sometimes it seems so fruitless, doesn’t it? We don’t know what’s going to happen tomorrow, let alone in 1-3 years’ time. I don’t think any of us has a crystal ball to enable us to see into the future (thankfully – can you imagine ho continue reading...

Managing Your Budget

  Do you have a budget to manage and you’d love to know how to do it better? Then read on! 1. Understand your monthly results When you review your monthly budget report, you are looking for variances (differences) between the actual results re continue reading...

What is a Balance Sheet?

  A Balance Sheet, one of the primary financial statements of an organisation, does what is says on the tin – it’s a sheet, or statement, that balances! What balances?  The assets of the company balances with the liabilities and equity of continue reading...

What is a Profit & Loss Account?

  A Profit & Loss Account (P&L) shows whether a profit or loss has been made on the sales income of an organisation after deducting costs. Therefore, it shows the financial performance of a company. It is important to note that the P&am continue reading...

Cash vs Profit – Part 1

Cash vs Profit: why are they not the same? A question I always ask when delivering financial training is “why do cash and profits differ?”  The answers are wide-ranging but never, so far, correct.  Cash and profits in companies are different fo continue reading...

What Indiana Jones can teach us about Tax & VAT!

When delivering my ‘Be Fabulous at Finance!’ workshops for small businesses, I discuss with the group what Indiana Jones can teach us about managing our tax affairs.  This may seem a strange link!  However, the majority of you reading this will know continue reading...

Sources of Finance

A common complaint from SMEs in recent years has been the lack of availability of funding to help them grow (or survive).  However, many of these SMEs simply asked only their banks for financial support and this was not always approved.  Did you know th continue reading...

Catapult Your Business Growth!

  Rarely does business growth just happen.  The power is in the planning!  Follow these simple steps, take charge and catapult your business growth!   Where do you want to be.  Dream big.  Set your goals – what would outrageous succe continue reading...

Jargon Buster: Capital vs Revenue Expenditure

Ah, some lovely financial jargon for you all!  You may have heard of capital expenditure, sometimes called capex, and revenue or operational expenditure, also known as opex.  If these terms are a mystery to you, please read on and continue to build continue reading...

7 Steps to Successful Credit Control

1. Know your customer – trap key information from the start Due diligence – ensure they exist, what legal entity they are, credit checks, ability to pay, check Google for any adverse publicity, etc. 2. Effective payment terms & conditions continue reading...

Boost Your ‘Bottom Line’! Part 1 of 2.

We’re all talking about improving our ‘bottom line’ in January - getting rid of any saggy bums and improving our overall health and fitness.  How about making it a New Year’s Resolution to boost the bottom line of your business at the same time! continue reading...

How it all began!

A question I am often asked is “what inspired you to set up your own business?” Well, it all started with a cycle tour!  A solo cycle-camping tour across Switzerland and France via the Swiss and French Alps, the Jura Mountains, the Vosges Mountain continue reading...