Wednesday 26 August 2015

QUESTIONS TO ASK YOUR ACCOUNTANT - 10 WEEK SERIES

WEEK 3 - What is my gross profit (gross margin) and what affects it?



 

Gross profit is the difference between sales income and “cost of sales” expenses. 
 
Aim to increase your gross profit margin by either increasing the selling price or decreasing your cost of sales. What could you do to increase your gross profit margin?

 
If you have questions please contact Andrew Marshall or Janine Orpwood at Langley McKimmie Chartered Accountants on (03) 5427 8100 for an initial consultation.
 
We provide accounting and wealth management services to clients in WoodendGisborne and Macedon Ranges areas within Victoria Australia.
 

 



Wednesday 19 August 2015

QUESTIONS TO ASK YOUR ACCOUNTANT - 10 WEEK SERIES

WEEK 2 - What is Cost of Goods Sold and what does it include?


 
 

Cost of Goods Sold (COGS) are all costs that can be directly attributed to producing finished goods. COGS is affected by the amount of activity or production during the period and can include direct materials and direct labour costs although will vary between industries.
 

Minimising your COGS where possible will lead to a higher gross profit.

If you have questions please contact Andrew Marshall or Janine Orpwood at Langley McKimmie Chartered Accountants on (03) 5427 8100 for an initial consultation.


We provide accounting and wealth management services to clients in WoodendGisborne and Macedon Ranges areas within Victoria Australia.

Wednesday 12 August 2015

QUESTIONS TO ASK YOUR ACCOUNTANT - 10 WEEK SERIES

WEEK 1 - How does my business compare with my competitors?




Benchmarks can be used to provide a comparison of your business against the performance of other businesses in your industry. Benchmarks can assist in highlighting areas that you may be overspending or if your business incomes compare favourably to your competitors. 
 
Ask us about benchmarks relevant to your business!


If you have questions please contact Andrew Marshall or Janine Orpwood at Langley McKimmie Chartered Accountants on (03) 5427 8100 for an initial consultation.


We provide accounting and wealth management services to clients in WoodendGisborne and Macedon Ranges areas within Victoria Australia.

Wednesday 5 August 2015

Why am I making profit but have no cash?

 
 
We assist our clients by providing direction in the management of their cash flow - a key factor in the success of a small business.
 
 
 
If you have questions please contact Andrew Marshall or Janine Orpwood at Langley McKimmie Chartered Accountants on (03) 5427 8100 for an initial consultation.

We provide accounting and wealth management services to clients in WoodendGisborne and Macedon Ranges areas within Victoria Australia.