Business Adivce
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Annual Reports. Why wait?
At the end of the financial year, companies are expected to prepare an annual report for the Government, usually to the Chamber of Commerce or any other responsible institution. Usually, these annual reports need to be presented within 6 months after the end of the financial year. That is, if your financial year ends on…
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Putting Money to Work or Squandering it?
If you are in business or investments, it’s quite likely you heard the saying that “money needs to be put to work”. As the expression says, to generate more earnings, money needs to be invested to create value and in consequence, higher earnings. However, some “investments” are actual expenses that bring no actual economic value,…
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Ethics vs Law
Time ago I had a business in Spain. Cash coming in is always great. No one can deny that. However, despite being Spanish, I’m not a tax resident because I’m living abroad. However, in the contract we signed, it was suggested I was to be responsible to pay a certain tax. Due to my lack…
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Can a Business Be Profitable if it’s Ethical?
In business I hear many stories. The ones that mainly catch my attention are those of businesses not taking, let’s say, full responsibility or following contracts as they should. Examples could go between employers not paying full salaries, suppliers not completing a job or delaying reparations, companies offering vouchers if you refer them to a…
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Always Learning
Probably most of us, when we were little, we were told about how important was to go to college, get a degree to ensure we could get a well paid job. Some of us did it, attended to lectures, passed exams, and earned a diploma as a proof of our hard work. Others did not…
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Don’t Be Afraid of Asking Questions
You just arrive to the office. You grab a coffee and go to your desk. Then you turn on your laptop and take a sip until it is ready to be used. You expect it to be a calm day. However, the moment you open your mailbox, an email from a business partner pops up.…
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Is Accounting Just Administration Work?
When I ask people what they think what accountants do, they usually respond with things such as recording or issuing invoices, making payments, or presenting taxes. The funny thing is when some say “anybody could do it. I did the accounting of my own business, but I hired an accountant to save time”. Accounting, unfortunately,…
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Pay Right and in Time, but Don’t Pay Twice
Imagine that you run a department like Accounts Payable. You hire more or less the right number of people. They focus on processing invoices. You pay suppliers more or less in time. From time to time minor issues occur, but your suppliers are happy in general. Time later, the company, like any other business, goes…
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Never Look at One Single Ratio
“This year we have grown 20% of sales compared to the previous year and we hit the 2 billion euro in revenue!”. I’m sure you have heard of this several times in one way to another. Companies that celebrate they made more sales, kept expenses under control or expanded to new markets. This sounds as…
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Forgetting Working Capital
On Linkedin (and not on Linkedin), I read and listen to complaints about how companies in general don’t pay Finance enough level of attention In my professional experience, I can say that in general, this is a true statement. It doesn’t mean of course that there isn’t a single organisation that doesn’t want to control…
Ruiz Fernandez Business Services 