business plan

How is your business going, here are some indicators to use to assess it.

Business / By

Gross Profit On your Profit and Loss Statement, gross profit is the difference between revenue and the cost of goods sold (or services provided). It generally appears before administrative expenses and general overheads are accounted for. Ideally, gross profit covers your overheads as well as generating your targeted profit, your net profit. Net Profit Net …

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Couple managing the debt

Flow on consequences of the removal of Interest deductibility

Finance, Tax / By

For many investors the impact of phased removal of interest deductibility is still sinking in. In this article we explore some of the consequences of the change that may not have been apparent at first glance. Firstly, a recap on the government’s announcement. For acquisitions of residential property after 27 march 2021 interest will only …

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Taxes. Finances

The importance of “reconciliation”

Tax / By

Reconciliation is a fundamental accounting process that will ensure your financial records are accurate and complete. But it is surprising how many businesses do not undertake them. What is it? Reconciliation is the process of comparing accounting records to supporting documentation (for example, the bank balance on the balance sheet to the bank statement) to …

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