How do I increase profit with limited time available?

If your small business falls under the service based industry category and are charging by the hour, increasing profit can often present challenges. There are two aspects to profit: the first is your income, and the second is the expenses you deduct from that income to get your profit. I spend a lot of time […]

Why is there a difference between my Profit and Loss Statement and my cash flow?

The most confusing area for small business owners can be understanding what is actually happening in their accounts. Product based industry The biggest challenge that product based industries face is the actual product they sell – stock. The key element to understanding the difference between your profit and your cash flow lies in a number […]

How to understand what your accountant is saying!

All professions have their own jargon and accountants speak a language foreign to most business owners called ‘accountanese’. Just the same as website designers and IT guys speak a language I call ‘ITgeekspeak’. Do you sometimes feel overwhelmed when you leave your accountant’s office thinking, ‘Why can’t they just speak English?’ You have just spent […]