"Make me care..." about Accounting...

Wikipedia definition... obviously; Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities such as businesses and corporations.

Simply put, it's the language of business, Accountants ensure businesses are complying with regulation but they also know how to showcase businesses helping their communities and their environment. Whether that is highlighting efforts in helping local charities, clubs or football teams. It could also be due to the way a business changes its processes to become more sustainable or environmentally-friendly. In my story, this is packaging materials, "What? - you say"...you see, certain businesses are able to change their plastic packaging to paper-based packaging and in many cases this can reduce their costs, if you're a manufacturer or an e-commerce business, designing the packaging for finished goods in a cost-effective way, will allow the highest capacity of inventory to arrive per shipment. Elements of the design can be dependent on the dimensions and weight of your product. What does this do? it will allow the business to reduce costs further in delivering to their consumers, and the money saved will allow the business to increase their inventory, increasing capacity, increasing the working capital cycle, even with some money left over to ensure there is enough money in the bank, to withstand late payments (accounts receivable) and fulfil pending liabilities (payable). The driving of additional revenue into the business is great, to top that, consumers can see the positive impact the business is making from its trading practices, as a result giving us increased credibility, longevity and sustainability.

Your business story is important to us @Instruo, we can analyse your business for one side of that story, the other side has to come from you. Profit maximisation and/or cost reduction is a given, Although, ultimately what would you like to achieve? Why are you in business? Which direction would you like to take your business? Accountants can help evaluate the risk and map out cost implications associated with what you want to do. Do you want to employ someone for the first time so that you can take time out of your business? Maybe you wanted to make an investment into an asset for additional income, or for increasing the value of your company? We'll have a look at such an example shortly.

Accountants can tell you these stories about your business, just by looking at the numbers, who said we're boring?!

Well, I personally... might be at times, although businesses... allow us to showcase our passion through our sense of ownership, accountability and our mission, to create a culture of interaction for learning and educating together @InstruoAccountants.

How did business become our passion and why are we so passionate about helping you? Well... I'd love to tell you my story but currently, I'd like to save us all from digressing off the topic. I might tell it. In fact, I'd much rather you would let me know if you'd like to hear it.

That would be a good starting point @Instruostory. For now, to cut it short, we have been business consultants and previously in some cases, shareholders in a range of businesses ranging from small retail stores to large manufacturing businesses, affiliated with smaller trade service providers and those, who offer corporate services to enterprise businesses.

InstruoAccountants care about businesses, so of course, we care to know what's happening in your business, by looking at the numbers on the financial statements. which we can now produce at the end of each month thanks to accounting software, rather than after the end of the tax year when information relating to it, becomes less usable/influential, from a decision making perspective. InstruoAccountants therefore, achieve great pleasure in telling you the story of your accounts.

Then, there is data visualisation, this means Accountants do not have to stare at endless Excel documents which take a lifetime it feels, to compile, sort and manage for data visualisation. Although, we do have experts available who spend time tailoring data in a bespoke way for you to achieve this, according to your business needs.

We can alternatively, pop data into software apps and with background knowledge and a few clicks and drags, we can create data visualisations in the shape of bar charts, graphs and so on.

Wouldn't this be advantageous for any business owner to have access to? Provided it is accompanied by a story, explaining the data and assistance in developing an understanding of which business decisions will benefit most, from the data available.

Your Accountant can now explain your figures even more easily to you and based on what you see, can advise you on what your next steps should be, to reduce costs and increase revenue.

Working with one of our larger textile manufacturing clients, data visualisation was so beneficial to us and allowed us greater transparency and insight into what was going on in the fast-paced environment of manufacturing, so that we became more able to pre-empt recurring problems and minimise the risk of repeating the same mistakes, such as, ensuring our pricing reflected the varying methods of logistics or the change in price for sourcing raw materials or fluctuations in currency exchange, as this would alter the cost per unit depending on a number of variables including the ones mentioned.

As a consequence, we were able to save money by minimising our freighting costs and purchasing at seasonal times where raw material costs were significantly lower and currency rates were lower, naturally incentivising trading. Hence allowing us to allocate the money saved into Investment capital, allowing the client to purchase a commercial property in 18 months under the target which they had budgeted, for sufficient investment capital to be raised. A fantastic surprise.

Ultimately, this allowed the company to purchase a commercially sound capital asset and generate additional revenue through rental income in 18 months before they expected to. After some unplanned meetings and pleasant twists in the story, we arranged a leaseholder on behalf of our client for the property for 21 years, a small retail franchise to be exact, ensuring a solid contract of recurring income for our client.

A well deserved holiday after that for our clients' took shape. They were tested at times, in their dedication and belief in our partnership, which was ultimately proven to be very fruitful. Our clients' trust in us was the driving force behind our ownership, commitment and tenacity to achieve our clients' goals.

That's a result. Small increments. Big changes.

Accountants do care about the little things, it's part of their job!

Sincerely,

Managing Director @InstruoAccountants