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Communication

CIMA qualified accountants determine what information management needs and explain the numbers to non-financial managers.

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Business owners often worry about the financial aspects of their business because financial information is not communicated to them in a way they can understand and use effectively.

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CIMA qualified accountants determine what information management needs and explain the numbers to non-financial managers.

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Case Study

Steve was a tree surgeon who had several large contracts with good clients. The business was doing well in terms of sales but always seem to lurch from one cash flow crisis to another. He therefore spent a lot of his time worrying about how he would pay the bills and fighting the bank who continually bounced payments to suppliers.

Steve thinks...
I spend too much time worrying about finance

At a networking event he met a management accountant and liked what she said about how she helped business owners to master their business finances. Together they reviewed his business and she spent time understanding him and his business. This meant she could answer his questions in ways that were relevant to him and understood exactly what information he needed.

She set up a reporting system to easily keep track of his finances and introduced him to a bookkeeper who could quickly, and cheaply, keep it up to date. At the end of each month the reporting system provided reports for him in a format he could easily understand. She showed him two areas he could quickly change to solve his cash flow difficulty:

  1. He was always busy so he was slow to send out customer invoices and he put aside very little time to chase slow payers. Understanding the cash consequences of this prompted him to ask the bookkeeper to do these activities for him.
  2. He would often buy large pieces of equipment when a customer paid a large bill. However, because he did not keep track of how much he owed other suppliers, he would suddenly find himself running out of cash again. He would suddenly find himself overdrawn and penalised by the bank. His new cash flow forecasting system made it easier to plan for large purchases, and get appropriate funding where necessary, so he didn’t go overdrawn.

Now Steve does not need to worry about money but can instead concentrate on running his business.

Free Downloads

KOLADE ANDREW ALLI

Evidence based pricing

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Evidence based pricingDownload →

This paper helps sets out a guide that will help businesses set a winning price for their goods and services that will stimulate the most demand and, increase their profits.
Provided by KOLADE ANDREW ALLI →

Fiona Bevan

Your Guide To Planning

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Your Guide To PlanningDownload →

A business plan should show you what your business will look like in the future and what actions you need to take to achieve the type of business you want. It is a vital tool in helping you identify your future strategies.
Provided by Fiona Bevan →

Fiona Bevan

Your Guide To Pricing

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Your Guide To PricingDownload →

Getting your pricing right is the key to building a profitable business. Charge too little and you will go out of business because you cannot pay the bills. Charge too much and you will go out of business because you wont sell anything.
Provided by Fiona Bevan →

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