As we know, the Covid-19 pandemic is significantly impacting all aspects of society, reshaping how we live, work and play. In the business world, the pandemic is driving seismic shifts in the operational approach and strategies of many industries. The bookkeeping and accounting sector is experiencing these shifts in the form of new working paradigms,…
Accounting is essential for every business, and there are many opinions on the right ways to find the services needed to stay afloat. If you’re just starting up or can see that your accounting systems need maintaining, what is the right approach? You can recruit an in-house accountant or consider hiring an outsourced specialist. The…
The pedantic answer to the above question (and let’s face it, we all love an occasional bit of pedantry) is that in very large businesses, where there are teams of people working on financial matters, the CFO is the most senior person within the finance organisation and the FD will be the most senior accountant…
Here at EFM, we ask our Associates to share their knowledge and expertise on certain topics that can help to improve your company’s financial management. In this article, Surrey based Finance Director, Andrew Sugden, discusses why do you need an Accountant? Before considering how to operate with your accountant, it’s probably a good idea to…
When growing a small business, the importance of keeping accurate and up-to-date financial records cannot be understated. Proper and complete financial records and reports indicate where a business is and where it’s headed. Without them, many small businesses have little understanding of the company’s finances, what makes it tick, and risk expensive headaches if HMRC…
An increasing number of start-ups & SMEs are able to scale up whilst keeping a careful eye on overheads through outsourcing financial management functions. Most commonly routine finance and accounting services such as payroll and bookkeeping are outsourced, but increasingly other areas of finance can also be successfully outsourced. Outsourcing finance functions helps companies to…
Entrepreneurs are the creative spark behind every new business. Often, they are dynamic forces of nature … but there are some things entrepreneurs should leave to others. Confidence. Determination. An appetite for risk. Passion. Adaptability. The list of traits traditionally associated with entrepreneurs is long. However, there is one thing every successful entrepreneur must acknowledge…
Credit control can be a topic that causes stress for small and large businesses alike, and more importantly the business owner. Remember, a sale is a waste of valuable business resource until the cash is collected. Improving credit control is the easiest way any company can access “new” finance. A good credit controller has competencies…
Summer is upon us, the sun is out and people are on their well earned summer holidays. But with so many staff members taking time off, it is a good time to reassess the efficiency of your business. Employment is the traditional and time-proven way of getting a job done but the summer holidays just…
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