The accounts receivable turnover ratio is an accounting metric that shows how well a company collects its receivables from customers. Knowing how to calculate and interpret the ratio will help you benchmark your receivables functions and take steps to improve them.
Opportunity cost is a concept that considers the expected returns lost when one alternative is chosen over another. Have you ever wondered about how to calculate the benefits you are missing by choosing one option over another? This is a form of opportunity cost. Although it does not appear in your accounting transactions or financial statements, it’s important to understand what it means when making business decisions. Here we’ll explore the idea of opportunity costs and how to weigh potential returns against lost opportunities.
If late payment of invoices is common for your business, you are not alone. SME owners say that 60 per cent of their customers don’t pay by the due date. If this describes your businesses, here are some tips on how to collect overdue invoices from your customers.
The Federal Budget for 2020-2021 released in early October included a number of developments designed to help small-to-medium businesses recover from the COVID-19 pandemic and grow. Some of these measures will motivate business owners to consider new finance options. Here we cover some of the budget measures and what they can create opportunities for finance brokers.
A letter of credit is a way for banks or other financial institutions to guarantee payment and the delivery of goods. This form of payment can seem confusing if you’re not familiar with how it works. Let’s take a closer look to understand letters of credit and how they can facilitate transactions between buyers and sellers, particularly in international trade.
A cash flow loan is used to meet working capital needs and is based on using a company's future cash flow to make repayments. Small businesses that need to boost working capital but don't have collateral can get this type of business loan to cover working capital needs.
The impacts of COVID-19 have significantly changed the business environment and raised challenges across the economy. While these changes will continue to have an impact, there are still opportunities for experienced finance brokers and mortgage brokers planning to diversify their businesses. Here we’ll go over some of the recent trends, where the opportunities lie, and how finance brokers can place themselves for future growth.
Trade finance is a broad term to describe various forms of finance used to facilitate trade, both domestically and internationally. Let’s look at some of the options available among trade finance providers and how they can make buying and selling products and services easier.
In late July 2020, the JobKeeper payment was extended by an additional six months to March 2021. Besides extending the program, other changes were made including lower payment rates. Let’s look at the details more closely to understand the JobKeeper extension. If you’re not sure if your business qualifies for JobKeeper, here we cover the latest updates.
Accounts receivable is the total amount of money owed to a business for goods and services delivered. When you sell a product or service to another business, you can send…
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