Going from sole trader to limited company
Summary: There are a number of reasons why you may want to change your business structure from being a sole trader to a limited company, for example, you may have grown your business to the point where it makes sense to have additional investors (shareholders), or your earnings are now at a level where it can become more tax efficient. If you are not familiar with the process of changing your business structure, this article will help you understand what is involved.
Comparing Cash Flow Forecasting and Budgeting
Summary: Cash flow forecasting helps identify trends in incoming and outgoing cash so that companies can prepare for future expenditures, avoid excessive debt, and meet payroll obligations. This process often involves using budgeting to determine how much money will be required over a given period of time. This type of forecast also takes into account other factors such as the cost to produce goods or services, expenses related to ongoing operations, interest payments on loans, capital repayments, tax instalments and other assets required to help grow a business.