The first question that’ll come to the mind of someone that is not financially literate is what is Working Capital? It shouldn’t come as a surprise that this person may just be a business owner engaged in a form of trade. As a business owner, consciously or unconsciously, whether we’d like to admit it or not, you have tried to…

  Financial reporting to investors, banks and key stakeholders Since the adoption of the International Financial Reporting Standards (IAS/IFRS) by the Federal Government of Nigeria and subsequently, requiring there usage in the preparation and presentation of Financial Statements by companies, operating in Nigeria, especially those listed on the trading floor of the Nigerian Stock Exchange, there are new challenges and…

Developing and Setting Budgets for SME’S   The term budget is known by almost everyone, but only few know exactly how it is developed, this article provides a step by step approach to budget development. Firstly, what is budget? Budget is a quantitative and qualitative statement of planned incomes and expenditures over a giving period of time, usually monthly, quarterly,…

What are the indicators that we need to change our current business strategies, when should we effect the change, how should we implement the change and how often should we change, are some of the most challenging questions that every business owners or managers must provide workable answers to, in today’s business world. The ability to develop, communicate and implement…

The major driving force behind all economic organizations is profit. Business organizations constantly seek for ways to maximize their profit while minimizing their loss. Profit gives owners of a firm the assurance that their firm is effectively managed. Organizations constantly need fund to either invest, acquire more training or to do some other things that requires fund; one of the…

Any business owner or business manager that seeks growth in business operation must give high attention to Working Capital and must understand the relationship between Cash and Profits, to avoid running out of liquidity, to avoid excessive liquidity, and to be able to honor short-term financial obligations. Firstly, let us explore the literally meaning of Working Capital, Cash and Profits,…