Below you'll find a list of all posts that have been tagged as “Financial”
How to get return on investment for your Audit. For many the prospect of the Financial Year End and an upcoming Audit feels like a chore, it’s a necessity which many prefer to get over and done with quickly and its purpose is purely compliance and with it comes a hefty bill. What if I said it’s an investment, that …
The Finance function is no longer just about the numbers. All businesses benefit from a high performing Finance Team in-house as trusted, strategic advisers. But traditionally the role of the Finance Departments was is to ensure compliance and that the cash flow was well managed. Finance teams would remain in a silo, separated from the rest of the business, and …
The Purchase to Pay Process (P2P) is the complete cycle from identifying a need to purchase an item, through selection of supplier, receipt of goods, invoice and payment. It ensures there are the right controls and processes in place to achieve the outcomes an organisation has highlighted as key to them. This could be low cost, best service, longest payment …
For many businesses 1st April is the start of the new Financial Year. The end of one year and the beginning of the next is full of activity, stress, and excitement which is often driven by the business’ achievement against budget (or financial plan). So why are we so hung up on this, why do we sit up until midnight …
Today it is becoming more and more common to find Directors of successful businesses who are under 30. These directors are highly driven, passionate about what they do and have great ideas. They also have something else in common, they are not afraid to ask and not afraid to admit to say they don’t know something, what is even better …
“Cash is King”, we have all heard this and when running a business it is critical. Here’s the scary bit… 4 out of 5 businesses fail due to poor cashflow, so let’s see what we can do quickly and easily to help you improve yours. Here are some quick ideas to do just that. Payment Terms Take a look at …
We are regularly asked this question, or we get blank looks when we mention Financial Controllers, so what are they? If you Google, “what is a Financial Controller?” this is what you get, be warned, this is a bit dry…: A financial controller is a senior-level executive who acts as the head of accounting, and oversees the preparation of financial …
At The Sunflower Group we like to think beyond the numbers and look at areas which can directly influence company profitability and are not immediately obvious. Yesterday we attended a seminar on Customer Service. The presentation was very insightful and so we wanted to share some key points with you. Most people know it can be a costly exercise getting …
So, what is a Chart of Accounts (COA)? In a nutshell, it’s the list of accounts that have been set-up in your Accounting Software to record all the different revenues and costs in your business. A well thought out COA can drive real business benefits, it’s not just a means of recording data. A poorly designed COA can hamper the …
