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How to Cook the Books eGuide

Question:

Why is financial control important?

Answer:

You are in business to make a profit and keeping correct financial records will enable you to measure, control, evaluate and forecast your profitability, your financial needs and your financial viability.

How to Cook the Books’ eGuide

Ingredients

6 essential ingredients to keep control of your finances.

Start-up and running costs of a business 

…Do you know what the start-up costs are of a business? Do you know the projected running costs of a business? Don’t underestimate these costs - they are critical in assessing the viability of the business idea.

Obtaining finance for your business

…Sources of finance: Find out the numerous sources from which to obtain finance and the types of facilities available for your business.

Business records 

…What financial records should you keep to make better business decisions?

Budgeting  

…The budgeting process involves realistic forecasting, monitoring and planning. Find out the many different types of budgets that are useful for a small food business.

Costing and pricing

…Find out how to determine the cost and how to price a product/service.

Taxation 

…Find out the many laws which apply to a small business.

Method

You already know that some basic records have to be kept so that your accountant can prepare your tax returns and financial statements. What about the rest of the year? How for instance, can you get some early warning of problems that are causing you losses? How can you detect changes in the pattern of trading or plan for profit on a regular basis?

The answer lies in obtaining up-to-date information on the finances of your business through use of basic accounting techniques. If you can afford to employ an accountant on a regular basis you should do so. If not, you can employ an accountant to set up a bookkeeping system for you, which you can then keep up daily, weekly and monthly.

So, what are you waiting for? 

Let us help you understand why money matters..

eGuide:

For a low investment, download a copy of How to Cook the Books eGuide it is easy to read with lots of examples, case studies, tips, and activities…knowhow you can use in your own business immediately. This eGuide is delivered online, so you can access it from your computer at a time convenient to you.

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How to Cook the Books eGuide

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