During a conversation with a colleague regarding some financial reporting for a client, the following phrase was coined… ‘Every number must mean something otherwise what is the point?’ I have been thinking about that phrase ever since and it has made me reflect on how we do things here at Straight Line Accounting Solutions, and not only here, but as an industry too. On too many occasions we hear that Accountants and Bookkeepers are just ‘Tax & BAS Return Factories’, whereby t
A budget... What is it and why should every business owner have one and more importantly live by it when it comes to making business decisions?
We all know a budget is a tool that enables a business owner to compare financial reality with financial theory, or in other words, actual figures against budgeted figures. This comparison tells us few things such as, how is overall actual performance tracking to budgeted performance, are the budgeted figures realistic indicated by