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Advice

Jargon-beating explanations

What you’ll find here is our answer to accountants' jargon to help you. So whatever bit of a set of accounts you're puzzling over, we’ve got the answers here – what it means, how it works and what you need to do about it.

Accruals (balance sheet)BudgetingCost of sales
Deferred taxDepreciationFinal accounts
InvestmentManagement accountsOverheads
Prepayments (balance sheet)Statutory accountsTrade debtors
Working capital (balance sheet)

 

Business tips

7 strategies for making retail work better for youRobert’s fledgling business had been buffeted by many things in its first few years. Operating as it does in the leisure sector as a coffee shop, it is up against tough competition with Starbucks, Costa and other sizeable operators nearby. If anything, that made Robert even more determined. Read the whole story or jump straight to the seven strategies.

7 top tips for managing your businessLike most new businesses it started with a bank of two or three customers personally known to the MD and for a while the workforce was small and worked hard, the MD got more customers and more business from his existing customers. One of the customers began to grow in importance for the company, eventually taking about 80% of turnover. Find out what happened or skip to learning the seven top tips.

Dividends and Salary - how does this work?

Probably the most commonly asked question I get from individuals wanting to start their new company. It is easy and possible to get almost £44000 tax free but you need to do it right or you lose out big style. These two articles tell you why it works, how to do it and what to watch out for and more importantly when you must get specific advice. You need to read part 1 first.