financial literacy
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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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This time of the Year
Reaching the end of 2024. Many organisations take the time, if they haven’t already, to look at what went and not so well, appraising the performance of the company according to the goals they set to meet during the year, and review if changes need to be done, like removing objectives that no are no…
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What is ROI?
You have a pool of available funds that don’t require an immediate use in the company. Then you decide to invest it and you look at different options in the market: stocks, deposits, bonds, a new machine, a computer, a building… It doesn’t matter, the most important is that it meets the definition of an…
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Assets
Imagine for a minute that your business is reaching its maximum production capacity. Profits are higher than ever and you can’t satisfy the demand of your product. Another example. You want to travel all around the world. Therefore you decide to learn a new language. Or maybe you develop a new computer software that can…
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