Raw 03 - November 2008 - (Page 18)

RAW MATTHEWS BUSINESS ASSOCIATES Using Accountancy Expertise To Achieve Business Improvement Accountants are known in particular for their experience and ability in producing statutory accounts reflecting how your business did last year and for ensuring your tax and companies house submissions are made accurately and in a timely fashion. Matthews Business Associates however passionately believe that a business is being run to achieve its financial and other goals and improve stakeholder wealth. This means that the key relevant accounting issues from a business owner’s perspective are those that influence a business’s performance against its key targets i.e. a) How the business is performing right now in terms of key measures, profitability, turnover and cash flow b) How the business is likely to perform in the future The vital key measures and information required to provide the business owner with this awareness will of course differ from business to business but they are likely to include at least some of the following areas vis :• the sales volume, pricing and profitability of individual products and services, • the level of stock holdings, • supplier capability and terms, • customer behaviour • staff behaviour Producing and being aware of these key facts is part of the engine room of running a successful business. At Matthews Business Associates Ltd we believe that your accountant is best placed and should be best qualified to help small and medium sized business clients both financially and commercially. Our first act is to take an interest in your business and ensure that we have a reasonable understanding of how your business operates and your business goals and targets. This in our experience is necessary to underpin any statutory accounts and helps us ensure that you are meeting all your statutory requirements. We feel is a terrible waste of an accountant’s ability to help his or her clients merely to stop at this point at what we would call the more defensive aspects of accountancy. Just as a football team comprises a goalkeeper, defence, midfield and forward line in order to score goals and win points so a SME Owner needs accounting help on every part of the pitch with teamwork to help the business achieve its goals. All aspects of how your business operates should be reviewed a) from a tax efficiency perspective and b) from a business performance perspective. This does not have to be a costly and time consuming exercise. The key is to build a good relationship with the business owner and taking an interest and being up to date with respect to what is happening in the business and what is planned going forward. We seek to identify, understand and communicate to you what key relevant information would help drive forward your business improving your cash flow, turnover and profitability. There are some key actions that could be undertaken with our help using this kind of information. e.g. 18 millionimpossible.com http://www.millionimpossible.com

Table of Contents Feed for the Digital Edition of Raw 03 - November 2008

Raw 03 - November 2008 Contents Bradley Chapman Rachael Elnaugh Linda Klassen-Brown Heidi Weir Mark Asquith Emma Thompson Chris Wright

Raw 03 - November 2008

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