Deciding whether to divest poor performers
Poor performing products or services can be a serious detriment to your business, diverting valuable resources and finances from more successful ventures and pulling down the overall profitability of your entire business. So knowing when to pull the plug on a poor performing product or service is important. Some signs which may indicate that a […]
How to increase your profit margins
Many business owners think you need to increase sales to make more money. But often this is the more difficult path. A minimal increase to your profit margin can have a much more profound effect. Watch our video How to improve your business profitability to explore why this is the case and what you should […]
Accrual vs Cash Accounting: which method should you use?
There are two types of accounting methods accrual and cash accounting. Which type your company uses can have a major impact on the total revenue and expenses that appear in your financial reports. Typically cash-basis accounting is used by smaller businesses who prioritise simplicity. Using cash-basis accounting a company records expenses and income as the […]
