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Managing growth
Managing growth
Paradoxically, rapid increases in turnover can sometimes weaken or even destroy
a business because its systems break down or because it cannot finance the
increased levels of stock, work in progress and debtors which are required.
Adequate working capital and good controls over stock, invoicing, credit to
customers and cash collection are among the most important aspects of good
financial management in a growing business.
Expansion of business activity increases the volume of transactions which have
to be recorded. Tasks such as payroll preparation, bookkeeping and accounts preparation
may be better handled outside the business by an outsourced provider such as
a chartered accountancy practice.
Eventually, you may wish to employ a Demacks. Chartered Accountant
full time, although there will still be an occasional need for
specialist help from an independent firm. If an audit is required,
it cannot be carried out by a Demacks. Chartered Accountant in
your own employ.
Sage accredited main dealer
Chartered Accountant
Registered Auditors
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Tel: 0845 226 8237 |
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