Accounting – It’s Like Another Language

Eugenie Jones Odds & Ends

Accounting – it’s like another language

Small businesses are constantly wrestling with the economy, other strong competition and the all-important tax man. With constant changes in the market, economy and tax law, a business owner could spend 80% of their time trying to get their head around everything – and that’s just to become compliant with the tax man.

We’re beginning to see more and more business get help from Accountants however there are still very few small-medium sized businesses getting help from an Accountant outside of compliance. While your financial statements are important, there are far more beneficial practices that can be undertaken.

To be honest, Annual Accounts can be a very frustrating part of our job. We see so many businesses that haven’t quite met their goals or further than this, don’t even have goals. They would’ve had a much better chance of reaching their potential if they understood exactly what the numbers were telling them.

We can help you!

We’re business advisors, but with an edge. As we already know your business and understand your numbers, we’re able to dive deep into the running of your business and assess where your strengths and opportunities are, as well as your weaknesses. And this isn’t just for large businesses either, this practice is very beneficial for smaller businesses as well. In fact, the results are usually more apparent and successful.

What are some of the points we’d run through?

Processes – We want to understand how your businesses is run and why. This will allow us to tailor a plan specifically to you, which will suit your business and industry.

Communication –  How do you communicate with your clients and how do you get your message across? More importantly, how do you communicate with your staff. A lot of the time, the way you communicate with your staff is they way they’re going to relay this message onto the customer.

Volatility – Are your sales seasonal? Do you have peaks and troughs in your sales from month to month that are hard to budget for? This can cause havoc on staffing levels and those  nasty tax payments.

Capacity – With current staffing levels, what is your capacity for turnover? Is it the right time to be taking on staff? How will this affect your cashflow and volatility?

Cashflow – Many people always say to us, “My company is profitable, I’m having to pay a lot of tax, but why do I never have any cash? Where does it all go?” Common problem that can be far more complex that a quick fix.

Growth – How can we tie everything together to ensure a positive, healthy and maintained growth?

 

The above are just few of the many points we’d be able to cover with you. We’re here to help you!

If this is something that’d you be interested in or would love to learn more about it, please get in touch. We’d love to hear from you.

 

t: 04 212 4977                                                     www.iif.co.nz                                                    [email protected]