Accounting: The term 'accountant' does not necessarily mean that the person has any formal accountancy qualification -The "Financial Times" Guide to Business Start Up 2010: The Only Annually Updated Guide for Entrepreneurs (Financial Times Series)
The book in question- 'As comprehensive an introduction to setting up a business as anyone could ever read' The Daily Telegraph comment.
The Daily Mail's assessment: 'The Wisden of the small business world, threaded through with common sense practical advice'
'A must for any small business owner' say the federation of small business
Employing a fully qualified accountant for up to 75 employed business is like cracking a nut with a sledgehammer.
Business.
Marketing should be focused on direct responses. Work out a target group.
You can write the message on websites, advertising, direct mail, press releases and materials.
Alternatively speak the message, telephone selling, carrying out demonstrations, exhibitions, and face to face selling. Imply the message through a logo.
Business Plans are an ongoing process. There is nothing like writing something down to help clarify and reveal uncertainties and weaknesses. Be conservative about plans, forecasts, sales and costs. Don't mislead banks and financial institutions.
This is the model for the business plan-
- The Past - How long have you been in the business?
- Management - Any past management experiences? Two or three pages of management achievements.
- Product or Service - two pages plus an appendix.
- Marketing - Size of the market- Analysis of the market -Likely Customers - Competitors.
- A management accountant will do a full Competitor Profitability Analysis for you. Three or four pages of marketing analysis. And another for selling How, Who, and Pricing.
- Operational Detailing - How are you going to keep the show on the road?
- Financial Analysis - this is a job for the professional - the Accountant. The term ' Accountant' is not necessarily someone with any formal qualifications in management accounting two or three pages of financial analysis. One or two pages on the prospects for the business.
What I'm offering business as well as my Management Accounting for decision makers. Accounts setting up systems, annual accounts, and audit. Finance managing costs, I can offer you tax return process documents. Set up a business account which is not left until the end of the year. I will update it monthly, prepare plans, forecasts, and advise on form of your business.
The Economist books have secrets within.
Activity Based Costing (ABC) is an essential piece of armory for an accountant. It’s an alternative to traditional overhead accounting Cost-benefit analysis is a weighing scale approach to making business decisions. All the pulses (the benefits) are put on one side of the balance and all the minuses (the costs) are put on the other. Whichever weighs the heavier wins.
A company considering whether to buy new computer systems, for example, might put on cost side things like:
- the price of the computers themselves;
- the cost of hiring people to install them
- the cost of training staff to use them.
On the benefits side would be things like
- greater speed in carrying out the company's operations;
- greater efficiency in organising data;
- a boost-staff morale from using latest equipment.
Maths is not great fun. In fact a level maths for economics is horrid. In life occasionally there are some things you do which you may not enjoy, but show an aptitude. These could have immense benefits. An hour a week of mathematics and you'll be very decisive in many problems. Management problems. Essential children realise this life skill.
Gross Profit is the figure to analyse when completing Competitor Profitability Analysis (CPA).
It’s the primary source of competitor analysis. Why? This is where the competitor is measured. Not their costs of toilet tissue.
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