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…
Every business decision made has a financial impact on your company. Whilst things like tracking revenue, staying on top of accounts payable and receivables, and administering payroll are essential to your business, non-financial transactions will undoubtedly also have an impact. While it may have been easy for the business owner to manage these various tasks when they were first starting out, it becomes increasingly…
Background An early-stage business developing and distributing batched cocktails, predominantly for on-trade distribution, was seeking accounting and financial management support. The current FD was leaving, and the business was struggling to find the right balance between an ambitious and bespoke IT led management reporting solution developed by the FD, and a more resilient and sustainable…
In order to identify new opportunities and ensure that they are operating on a profitable basis, small businesses need to incorporate a review process at the start of each financial year into their management process. The starting point in the process is to put together projections for what sales they might reasonably expect to make,…
Managing your finances is critical to all businesses, no matter how big or small. Juggling cash flow, sourcing funding and maximising profitability are challenges to all business owners and these are the things that a part time Finance Director can help with. This is why EFM has developed 7 key benefits around why you…
Background & Challenges An established provider of linen hire and laundry services to some of London’s top restaurants, hotels and spas had been acquired by a turnaround partnership and appeared to be on target for a successful exit. Operating from a 40,000 square foot facility in Park Royal, the business generated a robust revenue stream…
Unpredictable events happen in business whether the cause is a global pandemic, natural disasters such as weather or even through willful or accidental damage. The impact may be felt directly or indirectly via a key customer, supplier or member of staff causing major disruption to your operations. When adverse situations arise, you must be ready…
Background In 2019, a UK educational establishment was facing a bleak future. The organisation had always relied upon donations from its charitable foundation to break even and access to these funds expired in 2019. The business model (expensively rented campus, small group teaching, low student numbers) was loss-making without external funding. The institution was facing…
We’ve all heard the old adage ‘prevention is better than cure’. It’s usually used in relation to your health, but it can just as easily be applied to the health of your business, especially in the current Covid dominated economy. Getting an expert opinion and treating those niggling issues before they become major problems that…
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