- Ritchie can use ratio analysis techniques to analyse your accounts and provide you with advice on areas of improvement, which in turn will lead to greater net profit and cash flow.
- Job or process costing can be done to work out the true cost of your product or service. By working out which costs to your business are fixed, which are variable and what changes, or drives, those variable costs, you will be able to set a selling price that both recoups all of your costs and creates a profit for your business.
- Depending on your business, various management accounting reports can be prepared and explained to you. Not all information that is of value to a business comes from the financial reports. For example, the Profit and Loss report will not tell you how many units you sold in a particular region, or what the likely effect of a promotion of your product will be on your sales and profit.
- Analysis of efficiency and effectiveness of your current accounting information system, processes and procedures. By looking at how your business currently operates, Ritchie will be able to suggest more efficient methods when it comes to your paper work and getting all the relevant information into your accounting software. A lot of staff productivity is lost due to double handling of paperwork or not taking advantage of technology.
- Asset management and depreciation. There are generous tax advantages in Australia when it comes to depreciation of your assets and amortising any capital improvements. However, to comply with and take full advantage of the tax incentives you need to properly record your capital improvements, assets, and any related installation or set up costs, and work out the best depreciation method for your business.
Contact Ritchie to discuss how he can help with your business.