Considerations for year end

Author: Susie Bell | Published:

With year end approaching for many small businesses you may think all focus should be on the finalisation and filing of the annual accounts.

However when you work with a Management Accountantancy firm such as ourselves we can help you with other tasks you may not have considered which will enable you tofocus on the exciting new year in your business.

Reviewing business performance and setting objectives

  • Draw insights from the current financial and cash flow position and review your performance in the past year.
  • Map out your business goals for the next 12 months.
  • Discuss your long-term plans for the next 3 to 5 years.
  • Are there any challenges or issues might be standing in the way of them achieving these goals?
  • Discuss how we can work together to address these issues and meet your goals.

Business/organisational review and forecast

We are always striving to help small business owners manage their business in the most effective and efficient ways.  This could be by analysing cash flow, improving profitability, or something more significant.

  1. Address your business’s goals, both short and long-term. How can we measure them with specific KPIs to ensure we are on track?
  2. Put together a detailed budget for the following year.
  3. Question the availability of cash/finance to carry out any new plans.
  4. Assess the business’s cash flow.
  5. Compliance

Review statutory filing deadlines and provide updates as necessary:

  1. Finalising year-end books
  2. Annual Return Filing deadlines
  3. Corporate Tax Filing deadlines

Are there any roadblocks to meeting these deadlines?

If you have any questions regarding the above or would like assistance within your small business then please get in touch.  Email us at info@swsbs.co.uk.

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